24.12.201514:05 Forex Analysis & Reviews: Technical analysis of NZD/CHF for December 24, 2015

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The NZD/CHF uptrend has been taking place since August 2015. On the 8th of December, the price finally broke below the ascending channel suggesting that it might start a correctional move down.

The Fibonacci retracement indicator applied to the channel breakout point shows that NZD/CHF found support at the S3 (0.6530) level and resistance at R1 (0.6740).

While the resistance is unchanged, it is possible to sell NZD/CHF at the current level, targeting one of the support levels, either S1, S2 or S3. The stop loss should be placed above the most recent high (0.6786) reached on the 22nd of December.

Support: 0.6660, 0.6595, 0.6530

Resistance: 0.6740

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.