Technical analysis NZDCHF for 26.08.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.59825. The closest resistance is the level 0.59950

Key levels

• 0.60250, 0.60100, 0.59950, 0.59825, 0.59700

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.59825, with Take Profit of 0.59700 and Stop Loss of 0.59950

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.59950, with Take Profit of 0.60100 and Stop Loss of 0.59825