Technical analysis NZDCHF for 06.01.2022

The Tenkan-sen line crosses from top to bottom the Kijun-sen line. 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 0.6170. The closest resistance is the level 0.6200

Key levels

• 0.6352, 0.6315, 0.6280, 0.6260, 0.6240, 0.6225, 0.6200, 0.6170, 0.6140

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 0.6170 and Stop Loss of 0.6210

Alternative scenario

• Recommended opening long positions (Buy Limit) from the level of 0.6170, with Take Profit of 0.6200 and Stop Loss of 0.6140