FX.co ★ NZDCHF facing bullish pressure, potential for further upside

NZDCHF is currently facing bullish pressure from ascending trendline, in line with horizontal swing low support, 127.2% Fibonacci extension and 78.6% Fibonacci retracement. Prices might push up towards horizontal swing high resistance in line with 127.2% Fibonacci extension and 127.2% Fibonacci retracement. If prices push down further, prices might take support from horizontal swing low support in line with 127.2% Fibonacci retracement. Ichimoku cloud is also below prices, showing a bullish pressure for prices.

Trading Recommendation

Entry: 0.64206

Reason for Entry:

Horizontal swing low support, 127.2% Fibonacci extension, 78.6% Fibonacci retracement

Take Profit: 0.64517

Reason for Take Profit:

Horizontal swing high resistance, 127.2% Fibonacci extension, 161.8% Fibonacci retracement

Stop Loss: 0.64063

Reason for Stop Loss:

Horizontal swing low support, 127.2% Fibonacci retracement