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

Trading suggestion:

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

DateMarch 27, 2022 - 10:31
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.62597, resumption of uptrend is expected.
  • We make sure when the resistance at 0.66314 breaks.
  • If the support at 0.62597 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.61818 on 2021-12-03 and the trough at 0.60743 on 2022-01-25, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.63190 on 03/15/2022, so more gains to resistance(s) 0.65563 and maximum to Major Resistance (0.66314) 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 71.