NZD CHF Update: A successful rejection in the books
For months, the pair has struggled to close above the 50 Month Moving Average. It may be getting a successful rejection of an area full of support including the 200 Day Moving Average and the 0.382 fibonacci level.
Patience is key as the Swiss Franc has been strong recently with weakness showing up in the past 2 weeks - partly because speculators are betting that the Swiss Central Bank will step in to control the currency amid the strength.
On the other hand, New Zealand abandoned the zero COVID-19 policy as the government has acknowledged that the people will have to learn to live with the virus. This will give the economy and the currency the support needed to recover.
Patience is key as the Swiss Franc has been strong recently with weakness showing up in the past 2 weeks - partly because speculators are betting that the Swiss Central Bank will step in to control the currency amid the strength.
On the other hand, New Zealand abandoned the zero COVID-19 policy as the government has acknowledged that the people will have to learn to live with the virus. This will give the economy and the currency the support needed to recover.
