NZDCHF Daily Range|.382 Fibonacci|21 EMA| Swing Low|Price Action

Evening Traders,

Today’s Analysis – NZDCHF- finding range high as resistance, a reversion to range-mid is probable,

Points to consider,
- Price Action Impulsive
- Mid-Range Support (.382 Fibonacci Confluence)
- 21 EMA Dynamic Support
- Range High Resistance
- Below Average Volume

NZDCHF’s immediate price action is impulsive above Range Low; a retrace is healthy for further upside.

The current Range- Mid is in technical confluence with the 21 EMA and .382 Fibonacci, price action is likely to have a reaction here.

Range High is immediate resistance, price breaking this level with conviction will negate the short trade.

The volume profile is below average, an influx is highly probable when testing key trade locations.

Overall, in my opinion, NZDCHF is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps!

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And remember,

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Chart PatternsExponential Moving Average (EMA)FibonacciTechnical IndicatorsNZDCHFpriceactionrangehighrangelowRelative Strength Index (RSI)shorttrendTrend Analysis

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