NZD/CHF 1H Chart: Kiwi tests trend-line

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Neutral Neutral Neutral
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The New Zealand Dollar has gained momentum against the Swiss Franc since May 29. At the time, the Kiwi reversed from the bottom boundary of a medium-term wedge near 0.6825. 

The pair has been trading sideways along a downward-sloping trend-line which was formed early in April. It seems that the given line might be breached today. This should result in a continuous surge until the upper channel boundary is reached circa 0.7050. The upper wedge line, the 23.60% Fibonacci retracement and the monthly R1 are likewise located there. 

Technical indicators flash mixed signals, so the bearish scenario should likewise be considered. In case the pair breaches all three SMAs on both the 1H and 4H time-frames near 0.69, it is likely that the Kiwi returns to the lower wedge boundary or the monthly S1 at 0.6850 and 0.6795, respectively.

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