Looking at the weekly chart we can see that NZD/CHF has been on a downtrend since 2015. After making a lower low at 0.53, price has been making a correction and is now almost making its 3rd touch on the descending trendline as well as the Resistance Zone at 0.6400-0.6550.
The most likely scenario would be a rejection of the trendline and Resistance Zone, heading to the downside. If we see a bearish confirmation, look for a short entry on a lower time frame, with a first target around Support Zone.
In the case of price breaking the trendline and Resistance Zone, wait for a retest and look for long entries on lower time frames.
The most likely scenario would be a rejection of the trendline and Resistance Zone, heading to the downside. If we see a bearish confirmation, look for a short entry on a lower time frame, with a first target around Support Zone.
In the case of price breaking the trendline and Resistance Zone, wait for a retest and look for long entries on lower time frames.