If we take a look at the NZDCHF pair on a weekly time frame, we can see how many time's the pair have bounced off this area of support and resistance, and we are now at this area again. I am short this pair, entering on a 15 min chart.
Note
We are still at the area of resistance, without successfully breaking and closing above this area. We are still in consolidation, and should wait for either break above close above on daily or weekly to buy, or break below close below trend line to sell.
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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.