Kiwi to Slide against the Swiss: Market Forecasts for March 30th – April 3rd

Weekly Technical Outlook : NZD/CHF

  • Stop loss 0.742
  • Entry level 0.728
  • First Target at 0.718
  • Next targets to test at 0.715, 0.7107

 

Kiwi to Slide against the Swiss: Market Forecasts for March 30th – April 3rd
Kiwi to Slide against the Swiss: Market Forecasts for March 30th – April 3rd
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Technical Analysis

NZD/CHF as seen in the chart, has been rejected on the daily time frame by forming a pin bar. The price action suggests that the pair is in for some more downside move for the week, as the fib level 23.6 was rejected and the pair closed below the fib levels of 23.6 at the end of the week. With the bearish movement still intact, the downside bias should see the pair in the zone of 0.718 – 0.715, 0.7107.

Economic

  • The Building Permits released by the Statistics New Zealand on Tuesday
  • New Zealand Money Supply released by the Reserve Bank of New Zealand
  • The KOF Swiss Leading Indicator is released on Monday forecasted to be at 89.10
  • The SVME Manufacturing Purchasing Managers Index on Tuesday expected at 47.20
  • The Pin bar rejection at the key resistance area
  • Price Action on the Fib 23.6 level was rejected and closed below the 38.2 level
  • Bearish movement still intact with the sellers taking control at the end of the week
  • If price reaches the Fib level 50.0 should consider partially exit on the pair

 

Area of Interest

  • The Pin bar rejection at the key resistance area
  • Price Action on the Fib 23.6 level was rejected and closed below the 38.2 level
  • Bearish movement still intact with the sellers taking control at the end of the week
  • If price reaches the Fib level 50.0 should consider partially exit on the pair

 

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