💱 NZDCHF - Pre-breakout setup. The market is getting to fall
NZDCHF continues to observe a multi-month bearish trend. This time price finds limit support at 0.53362 and continues to make an onslaught on this zone.
TA on the high timeframe:
1) The strong bearish trend continues. Price is unable to update the local highs
2) Flat (consolidation) is being formed. Within the consolidation, the price is approaching the support for another breakout
TA on the low timeframe:
1) A bearish channel is formed. The price bounces off the resistance and tests the support
2) The currency pair is squeezed between 0.54000 and 0.53360
3) Another (4) support retest is formed. Under market pressure after the next test, the price may break the support and head lower towards 0.52500
Key support📉: 0.53360
Key resistance📈: 0.54000
TA on the high timeframe:
1) The strong bearish trend continues. Price is unable to update the local highs
2) Flat (consolidation) is being formed. Within the consolidation, the price is approaching the support for another breakout
TA on the low timeframe:
1) A bearish channel is formed. The price bounces off the resistance and tests the support
2) The currency pair is squeezed between 0.54000 and 0.53360
3) Another (4) support retest is formed. Under market pressure after the next test, the price may break the support and head lower towards 0.52500
Key support📉: 0.53360
Key resistance📈: 0.54000
❤️ Telegram channel: t.me/AndeWave
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❤️ Telegram channel: t.me/AndeWave
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.