NZD/CHF 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
During the last couple of trading sessions NZD/CHF has been moving slightly above pattern's support line, which is also supported by 200-bar SMA. Furthermore, technical indicators on 4H, daily and weekly charts are neutral, suggesting pair will stay around current level for the foreseeable future. In the meantime, 74% of traders are bearish on the pair, hence we can expect another retest of the support line soon. In 100 pips range 67% of all pending orders are about to go short, providing additional boost for the pair. Even despite unclear "buy" or "sell" signals, in case the pair will be able to close below the support line, we can expect a strong downward movement.
© Dukascopy Bank SA
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