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Weekly forecast New Zealand Dollar / Swiss Franc technical chart
Symbol NZDCHF

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMay 30, 2020 - 23:00
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 0.60500, resumption of downtrend is expected.
  • We make sure when the support at 0.54900 breaks.
  • If the resistance at 0.60500 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • A peak is formed in daily chart at 0.6040 on 05/27/2020, so more losses to support(s) 0.5790, 0.5700 and minimum to Major Support (0.5490) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 57.

Supports and Resistances:

  1. 0.7290
  2. 0.6780
  3. 0.6670
  4. 0.6545
  5. 0.6425
  6. 0.6330
Click on the level to view price action history.