NZDCHF looks to continue its bullish long-term trend after a few weeks of bearish momentum.
Price recently broke above the descending channel and the 4h EMA, suggesting a trend reversal. If price holds at the ascending channel support (around 0.6435), and fib level 78.6%, we could see bullish momentum really kick in, up to the 0.6545 level.
Entry checklist:
- rejection at ascending channel support and previous resistance around 0.6435
- rejection at 78.6% fib level
- bullish confluence among MACD and RVI
Price recently broke above the descending channel and the 4h EMA, suggesting a trend reversal. If price holds at the ascending channel support (around 0.6435), and fib level 78.6%, we could see bullish momentum really kick in, up to the 0.6545 level.
Entry checklist:
- rejection at ascending channel support and previous resistance around 0.6435
- rejection at 78.6% fib level
- bullish confluence among MACD and RVI