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

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.6050 to 0.5995). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.6050)
    • Support on 01/15/2015
    • Support on 08/26/2015
    • Support on 09/01/2015
    • Support on 09/02/2015
    • Resistance on 03/02/2020
    • Resistance on 06/01/2020
    • Support on 06/11/2020
    • Support on 06/12/2020
  • Ending of entry zone (0.5995)
    • Support on 01/15/2015
    • Support on 08/24/2015
    • Support on 08/25/2015
    • Support on 02/28/2020
    • Support on 03/03/2020
    • Resistance on 04/30/2020
    • Trough on 05/11/2020
    • Resistance on 05/26/2020
    • Resistance on 05/27/2020
    • Resistance on 05/28/2020
    • Resistance on 05/29/2020

DateJune 27, 2020 - 21:14
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.59950, resumption of uptrend is expected.
  • We make sure when the resistance at 0.62900 breaks.
  • If the support at 0.59950 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 41 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 0.6290 on 06/05/2020, so more losses to support(s) 0.6050 and minimum to Major Support (0.5995) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 51.

Take Profits:

  1. 0.6160
  2. 0.6290
  3. 0.6425
  4. 0.6530
  5. 0.6670
  6. 0.6780
  7. 0.7290
Click on the level to view price action history.