Tues 29th November 2022

Today, Our Daily Currency Strength Weakness Video will focus on:

  • NZDCHF
  • NZDUSD

Charts Provided by Charles Clifton

Daily Analysis By Jon Kibbler

NZDCHF – Price Trading Back Within A Range

In today’s currency strength video we will be looking at NZDCHF as the price looks to trade back within a large trading range. 

The currency strength indicator tables show us that the NZD is S1 on the trend tables an the CHF is W3. 

The first time we saw NZDCHF appear on the tables was back on 24th October, since then the price has rallied over +250 pips.

Price made a low at the start of October and since then the NZD strength has driven price through a key trendline resistance back within a trading range.

The range lasted 11 weeks and traded between the 1.5900 handle and 0.6075 handle. 

Technical Observations

  • The NZD is S1 on the the trend traders tables and the CHF is W3 on both trend tables.
  • Price formed a low in October at the support of 0.5525.
  • Since then the price has formed consecutive higher lows on the daily time frame.
  • This has led to the price breaking back within the trading range between 0.5900 and 0.6075. 
  • Now price is within the range we could look for opportunities to trade to the highs of the range which holds confluence with the Daily 200 Moving Average.

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