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Orion-Markets
Oct 15, 2019 9:39 AM

NZDCHF to break out of wedge pattern Short

New Zealand Dollar/Swiss FrancFXCM

Description

NZDCHF has been trading within this wedge pattern, however after a lower high and the development of a bearish head and shoulders we are expecting an imminent breakout. RSI now shows divergence with a higher high on the chart yet a lower high on the RSI. Momentum is therefore shifting. We will await a break of the lower boundary of the wedge and a retest before looking at short entries back towards the lows.
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