NZDCHF: Bearish Continuation Setup from Resistance Zone
The NZDCHF pair is trading within a well-defined descending channel, reflecting a bearish market structure. The price is approaching a key resistance zone which aligns with the channel's upper boundary.
If the price confirms rejection at this supply zone, I anticipate a bearish move targeting the 0.50441 level, which represents a logical target for this setup.
This setup suggests a continuation of the bearish trend within the current channel. Traders should watch for confirmation, such as bearish engulfing candles or long upper wicks, before considering short positions.
If the price confirms rejection at this supply zone, I anticipate a bearish move targeting the 0.50441 level, which represents a logical target for this setup.
This setup suggests a continuation of the bearish trend within the current channel. Traders should watch for confirmation, such as bearish engulfing candles or long upper wicks, before considering short positions.
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