Technical analysis NZDCHF for 20.01.2022

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 support is the level 0.61950. The closest resistance is the level 0.62300

Key levels

• 0.63250, 0.62925, 0.62625, 0.62300, 0.61950, 0.61525, 0.61150

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.61950, with Take Profit of 0.62300 and Stop Loss of 0.61785

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.61785, with Take Profit of 0.61525 and Stop Loss of 0.61950