Chart Of The Day: After Crossing TL Resistance, NZDCHF Rises Towards Horizontal Barrier

Fri, 11 Jan 2019 11:56

While break of more than a month-old trend-line resistance and three-week long horizontal-hurdle signal brighter chances of the NZDCHF's rush to 0.6740-45 upside barrier, overbought RSI might challenge the pair's advances then after. Should prices refrain to reverse from 0.6745, the 0.6790 and the 0.6820 are likely following numbers to appear on the chart. Moreover, pair's successful trading beyond 0.6820 could flash the 0.6840-45 and the 0.6900 on Bulls' radar to target.

Alternatively, pair's slide under the 0.6655-50 support-confluence highlights the importance of 0.6600 support-line, breaking which 0.6580 & 0.6560 may become sellers' favorites. Given the pair's extended south-run below 0.6560, the 0.6500 can receive market attention.

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