drdennisleong

NZDCHF - potential breakout soon?

Short
OANDA:NZDCHF   NZD/CHF
NZDCHF has been in a downtrend since March 2022 from a high of 0.65169. It has formed a double bottom as it tested a low two times at 0.51926 in Aug and Oct 2023. It has since risen and is hitting the resistance zone around 0.5400.

If resistance holds, it may fall back to the support at 0.51926 before attempting again to break out.





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