NZDCHF BULLISH CONTINUATION FROM KEY LEVEL
NZDCHF is very bullish from the beginning of October.
Setting a new high last week the price retraced to a key level.
Retesting key support the price started to grow.
Bulls managed to violate a falling wedge pattern, and duplicate the bullish breakout.
Expect new wave upward to the key resistance level.
The bias for the NZD remains firmly titled to the upside, and as rates keeps rising
Also note that the RBNZ delivered on expectations to raise the OCR to 0.50%. As the hike was already fully priced, the lack of new hawkish tones we saw a textbook buy-the-rumour-sell-the-fact reaction in the NZD pushing lower.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses
Setting a new high last week the price retraced to a key level.
Retesting key support the price started to grow.
Bulls managed to violate a falling wedge pattern, and duplicate the bullish breakout.
Expect new wave upward to the key resistance level.
The bias for the NZD remains firmly titled to the upside, and as rates keeps rising
Also note that the RBNZ delivered on expectations to raise the OCR to 0.50%. As the hike was already fully priced, the lack of new hawkish tones we saw a textbook buy-the-rumour-sell-the-fact reaction in the NZD pushing lower.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses