Not being greedy on this one as it looks a bit risky. Target is 50 points with a stop loss at 17.5 points.
Alternatively it might breakout of the current trendline and drop but on the 1H chart the RSI has turned and it looks to be bouncing off the lower trendline.
PRICE IS CURRENTLY IN A KEY SUPPLY AND DEMAND ZONE, PRICE ACTION SHOWING US SIGNS THE BULLISH MOMENTUM IS EXHAUSTING WITH INDECISION CANDLES. COULD TAKE ENTRY NOW FOR A RISKY ENTRY BUT I'D LIKE TO SEE BEARISH CANDLES TO CONFIRM THE REVERSAL, GREAT RR SETUP TOO! LET ME KNOW WHAT YOU THINK, TRADE SAFE.
. There is a possibility of temporary retracement to suggested support line (0.6302). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDCHF is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.