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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.

DateJuly 31, 2022 - 21:44
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 0.60729, resumption of downtrend is expected.
  • We make sure when the support at 0.58991 breaks.
  • If the resistance at 0.60729 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 0.60715 on 07/20/2022, so more losses minimum to Major Support (0.58991) 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 39.