NZD/CHF - clear breakout for a potential bearish momentum!

Hi guys we would be looking into NZD/CHF today.

Current Trend: Bearish 📉
NZD/CHF is showing signs of continued downside momentum, with price action indicating a weakening New Zealand Dollar against the Swiss Franc. The pair is trading below key moving averages, confirming a bearish bias.

Key Technical Indicators:
Resistance Levels: 0.5250, 0.5300
Support Levels: 0.5180, 0.5150
50 & 200 EMA: Price is trading below both, reinforcing a bearish trend.
RSI (Relative Strength Index): Below 50, signaling bearish momentum.
MACD: Bearish crossover, indicating downside continuation.
Trade Setup:
Entry: Sell below 0.51480
Take Profit: 0.50800 (extended target)
Stop Loss: 0.5270 (above recent resistance)
Market Sentiment & Fundamentals:
Risk-off sentiment supports CHF strength.
NZD weakness driven by softer economic outlook and lower commodity prices.
Swiss Franc benefits from safe-haven demand.
💡 Conclusion: The bearish trend remains intact, and selling on retracements near resistance zones could offer good risk-reward opportunities. Keep an eye on global risk sentiment for additional confirmation. 🚨