CHF/ZAR: Resumption of multi-year uptrend
The drawn out correction of the past three years is coming to an end, thus resuming the multi-year uptrend (since 2005). Prepare for significantly higher levels once the trigger at 13.85 is taken out convincingly. We expect a move towards minimally 14.52 and probably 16.77 on a 9-12 month horizon.
Near term trend: neutral
Long term trend: positive
Outlook: moderate correction ending, trend resumption > 13.85
Strategy: long-entry > 13.85
Support: 12.90 / 12.20 / 11.51
Resistance: 13.85 / 14.52 / 16.77+
Outlook cancelled/neutralized below 12.20
Near term trend: neutral
Long term trend: positive
Outlook: moderate correction ending, trend resumption > 13.85
Strategy: long-entry > 13.85
Support: 12.90 / 12.20 / 11.51
Resistance: 13.85 / 14.52 / 16.77+
Outlook cancelled/neutralized below 12.20
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.