NZDCHF has been within a local upward wedge pattern for a long time. A breakout of support could trigger a continuation of the downtrend.After breaking through the wedge support, the currency pair is one step away from the start of the realization. The focus is on consolidation at 0.4982 - 0.4919. A breakout of support could trigger a decline in the currency pair amid a weakening NZD and a rising dollar index, which overall creates a negative backdrop for the pair.
A retest of the previously broken boundary of the figure or resistance at 0.4953 is possible before the decline continues, but a consolidation of the price below 0.4918 will be a good signal for the start of the movement.
Resistance levels: 0.4953, 0.4981
Support levels: 0.4918, 0.4872
Trend pressure plays an important role, as does the fact that the price is coming out of a wedge consolidation. The breakout is directed towards the main trend, and price consolidation below the key support will only confirm this.
Best regards, R. Linda!
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🌹TRADING is a CASINO💔!?
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You❗️CAN and ❗️SHOULD make money in trading!
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You❗️CAN and ❗️SHOULD make money in trading!
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