FX.co ★ NZDCHF further downside from pivot

NZDCHF is currently pushing downwards towards 1st resistance in line with 161.8% Fibonacci extension and 61.8% Fibonacci retracement. If prices push down further, prices might take support from 78.6% Fibonacci extension and 127.2% Fibonacci retracement fibonacci confluence zone. If prices reverses from 1st resistance, prices might face resistance from horizontal swing high resistance in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension.

Trading Recommendation

Entry: 0.64043

Reason for Entry:

Horizontal pullback support, 161.8% Fibonacci extensions, 61.8% Fibonacci retracement

Take Profit: 0.63811

Reason for Take Profit:

127.2% Fibonacci retracement, 78.6% Fibonacci extension

Stop Loss: 0.64272

Reason for Stop Loss:

Horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension