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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.

DateAugust 22, 2020 - 22:05
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.59150, resumption of uptrend is expected.
  • We make sure when the resistance at 0.62900 breaks.
  • If the support at 0.59150 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • The RSI support #1 at 31 is broken, so the probability of resumption of uptrend is decreased.
  • A trough is formed in daily chart at 0.5915 on 08/18/2020, so more gains to resistance(s) 0.5970, 0.6060, 0.6160 and maximum to Major Resistance (0.6290) 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 40.

Supports and Resistances:

  1. 0.7290
  2. 0.6940
  3. 0.6780
  4. 0.6670
  5. 0.6530
  6. 0.6425
  7. 0.6290
  8. 0.6160
  9. 0.6060
Click on the level to view price action history.