Today’s analysis – NZDCHF – trading towards a key level where a bounce is probable,
Points to consider, - Price Action Corrective - Weekly S/R Support - .618 Fibonacci Confluence - RSI Extended - Swing High Objective
NZDCHF’s immediate price action is trading towards a key trade location that has technical confluence with the Daily S/R and the .618 Fibonacci, allowing for a bullish bias.
The current swing high is the objective, exceeding this level will lead to a trend continuation.
The swing high is the objective, exceeding this level will lead to a trend reversal.
Overall, in my opinion, NZDCHF is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
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And remember,
‘’No one strategy is correct all the time’’.- John Paulson
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