Technical analysis NZDCHF for 03.12.2021

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 resistance is the level 0.62450. The closest support is the level 0.61950

Key levels

• 0.65375, 0.64700, 0.64275, 0.63600, 0.63125, 0.62450, 0.61950, 0.61225

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.62450, with Take Profit of 0.61950 and Stop Loss of 0.63125

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.63125, with Take Profit of 0.63600 and Stop Loss of 0.62450