NZDCHF Lower

Trying NZDCHF lower here.

We could get a potential break lower in this triangle that's been developing.

Overall the trade idea makes sense i believe, NZD has not benefitted from a hawkish hike from the RBNZ and i believe this is because of the recent weak data from the US. I've been seeing a lot of people concerned about a potential recession coming to the US and this could be feeding back to worries of a potential global recession. NZD will not benefit from this kind of environment as they have been very hawkish and so would likely see a strong downturn in the economy if this is the case. CHF should benefit from it's safe haven status as well. I also think stocks are too high, eventually bad news in economic data is bad news for stocks and i think we are getting close now. A fall in risk sentiment should mean a fall in NZDCHF.

We are going against the usual seasonals of a strong month for risky assets so take this with a pint of salt.

If we go back above the triangle then the idea is likely wrong short term.

Not trading/investment advise, feedback welcome!