NZD/CHF short setup Short

New Zealand Dollar/Swiss FrancFXCM

Description

⋅ Apr 24, 2018 8:28 AM

Technical Analysis: Bias Bearish
- RSI and Stochs are biased lower, RSI below 50
- MACD shows bearish crossover on signal line
- -ve DMI crossover on +ve DMI
- Upside capped at 20-DMA (0.70)

Support levels - 0.6933 (200-DMA), 0.6916 (cloud top), 0.6865 (61.8% Fib)
Resistance levels - 0.7003 (20-DMA), 0.7025 (5-DMA), 0.7066 (Jan 23 high)

Good to go short on rallies around 0.6970/80, SL: 0.7010, TP: 0.6935/ 0.69/ 0.6865.

Comment

⋅ Apr 26, 2018 5:12 AM

TP1 hit.
Hovers around 200-DMA. Break below will see further weakness.