NZDCHF approaching resistance, potential drop!
Price is approaching our first resistance at 0.6722 (horizontal pullback resistance, 23.6% Fibonacci retracement , Elliot wave structure) and a strong reaction might occur below this level pushing price down to our major support at 0.6667 (horizontal swing low support, 100% Fibonacci extension ). Ichimoku cloud is also showing signs of bearish pressure in line […]
NZDCHF seeing major support, potential for a nice bounce!
NZDCHF is seeing major support at 0.6858 (Fibonacci extension, bullish harmonic formation, horizontal swing low support) and a strong bounce could occur at this level to push prices up to major resistance at 0.6929 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance). Stochastic (55,5,3) is seeing major support above 2.7% where a corresponding bounce could occur. […]