Long

NZDCHF

Updated

Hey traders, I have been monitoring the NZD/CHF currency pair and have noticed a significant rejection on a major support level. Based on this rejection, I believe that there is a high probability that the price of NZD/CHF will continue to move upwards towards my target price, after a short retracement. Fundamentally, Switzerland's economy has been showing better performance compared to New Zealand, with a higher GDP and lower unemployment rate, despite having even lower interest rates. However, we must also consider the potential impact of XAU price on the CHF, as a bullish trend in gold prices could further strengthen the CHF in the market. While this is just one factor to consider, it is important to keep a close eye on the XAU price and its potential impact on the CHF.

Targets: 0.56600
Targets: 0.58000

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Trade active

Note

This idea is progressing well since our entry, and it is advisable to hold onto this trade until the price reaches the final target.

Note

TP1 reached

rTrader_official

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