NZD/CHF reached buy target 0.7220

9 September 2016, 16:00
Eko Rediantoro
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  • NZD/CHF reached buy target 0.7220
  • Next sell targets - 0.7150 and 0.7100

NZD/CHF continues to decline – following the earlier downward reversal from the resistance zone lying at the intersection of the key resistance level 0.7220 (top of the previous sharp impulse wave 3 and the buy target set in our earlier forecast for this currency pair), upper daily Bollinger Band and the resistance trendline of the wide weekly up channel from January.

Given the strength of the aforementioned resistance zone - NZD/CHF is expected to correct down further to the next sell target at the support level 0.7150 – the breakout of which can lead to further losses toward 0.7100.

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