NZDCHF is facing bullish pressure from ascending trend line support. Prices might bounce off 1st support which is in line with 61.8% fibonacci retracement and 50% fibonacci extension. Prices might push towards 1st resistance which is a horizontal swing high resistance which coincides with 61.8% fibonacci extension. If prices fall through, it might reach 2nd support which is tagged to a horizontal swing low support which coincides with -68% fibonacci retracement and 100% fibonacci extension. Stochastics is also approaching support level of 2.19 before a bounce could be seen.

Trading Recommendation

Entry: 0.66636

Reason for Entry:

61.8% fibonacci retracement, 50% fibonacci extension

Take Profit: 0.67150

Reason for Take Profit:

Horizontal swing high resistance, 61.8% fibonacci extension

Stop Loss: 0.66363

Reason for Stop Loss:

Horizontal swing low support, -68% fibonacci retracement, 100% fibonacci extension