***Most people will refrain from trading the NZDCHF due to increased margin requirements since January on top of the structurally-large spread on such a cross.
The technicals of the NZD/CHF are really interesting right now as prices have bottomed out since the end of last week with a daily support at 0.626. The SNB has once again intervened in the Swiss Franc...
Nzd/Chf is showing a nice Bullish engulfing candle on the 4hr chart
Just above 61.8% Fibonacci Expansion target - which now could act as a support
The Stochastic indicator shows a slight bullish divergence too,
and price seems to be rejecting the lows around 0.6260
I am long Nzd/Chf with a first target of taking out previous highs around 0.64,
second target is...
