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NZD/CHF: trade ideas

NZD/CHF: trade ideas

Information is not investment advice

The NZD remains in a downtrend versus the CHF and the JPY as the market is still in the risk-averse mode. NZD/CHF looks better for trading. It came close to the key support in the 0.6505 area (January low). A decline below this level will open the way down to 0.6450 (78.6% Fibo of the 2018 advance).

If the support holds and NZD/CHF recovers above 0.6530, it will get a chance to retest 0.6550 and maybe 0.6585 (the top of the 3-week trading range).   

NZDCHF.png

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The upside of EUR/CHF has so far been limited by 1.0975. On Monday, the pair slipped below 1.0940 resuming the decline that started last week.

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