Technical analysis NZDCHF for 07.01.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom 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 0.6200. The closest resistance is the level 0.6225

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 Limit) from the level of 0.6225, with Take Profit of 0.6170 and Stop Loss of 0.6240

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.6240, with Take Profit of 0.6280 and Stop Loss of 0.6225