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Technical analysis of NZD/CHF for April 27, 2016

As per my previous analysis, the NZD/CHF short position would have been triggered around the 0.6740 level. As you can see, price continues moving lower, and today it is attempting to break below the S1 (0.6670) support.

Consider holding the short position if you have already opened one, or getting into a sell trade on small pullbacks near S1. The first target is S2 (0.6585), the second is S3 (0.6520), and the final is (0.6450). The stop loss should be just above R1 (0.6790)

Support: 0.6670, 0.6520, 0.6450

Resistance:0.6790, 0.6810

INSTA_NZDCHF.png

The material has been provided by InstaForex Company - www.instaforex.com