Technical analysis NZDCHF for 29.06.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.59425. The closest resistance is the level 0.59775

Key levels

• 0.60575, 0.60100, 0.59775, 0.59425, 0.59050, 0.58600

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.59775, with Take Profit of 0.59425 and Stop Loss of 0.60100

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.60100, with Take Profit of 0.60575 and Stop Loss of 0.59775