NZDCHF WAITING FOR THE BREAK

16 Eki 2018

NZDCHF is in focus this week as it approaches a key resistance level after breaking out of a trendline resistance. The market came into a support level and now looks to be forming daily trend if we see the market create a higher high. NZD is another currency of focus highlighted from our COT reports and we have already positioned ourselves on NZDJPY in line with this idea. If the market breaks and closes higher we expect the market to test the 127.2 fib extension before looking to trade after a retracement to the key level of 0.6510.