NZD/CHF 1H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascpy Bank SA
© Dukascpy Bank SA
Sticking to the bottom trend-line of the almost two-week wedge, NZD/CHF shows little doubt of a bear-trend, at least as high as 0.7089 – the upper trend-line of the wedge. The rate will have to battle 0.7073 and 0.7081 before the trend-line is attempted, and a close above would shift risk to 0.7098/99 or 0.7107/08 which would then leave little to 0.7114, the 200-hour SMA. In case recent tests of the bottom trend-line drive the trend south, weakness below 0.7059 would open the way to 0.7056 and 0.7048/0.7043. With an overwhelming majority (70%) of bears expecting gains on NZD/CHF, pressures towards equilibrium could cause the wedge to break soon.
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