The 78 level proved to be a significant one for NZDCHF, and for quiet some time the PA ranged in this slightly ascending wedge, providing opportunities for short-term scalping in both directions.
The break of lower TL was not a surprise but the U-turn @7746 and break of higher TL certainly was. Unfortunately, NZDCHF didn't have strength to stay above the higher TL and broke lower again testing the 78 level from upside.
The bearish correction to lower TL is obvious, but will NZDCHF break it lower toward 77, to be precise, to 38.2 ret. @7727?
The break of lower TL was not a surprise but the U-turn @7746 and break of higher TL certainly was. Unfortunately, NZDCHF didn't have strength to stay above the higher TL and broke lower again testing the 78 level from upside.
The bearish correction to lower TL is obvious, but will NZDCHF break it lower toward 77, to be precise, to 38.2 ret. @7727?