NZDCHF- Swiss Franc Strength Returns: Time To Sell?

Thurs 19th January 2023 : Daily Currency Strength Analysis

In Today’s Video we’re looking at Trading Setups in:

• NZDCHF
• AUDCHF
• CADCHF

NZDCHF- Swiss Franc Strength Returns: Time To Sell?

In today’s currency strength video we identified that the Swiss Franc sits top of the day traders table at S1 offering us trading opportunities.

The NZD and AUD strength has been erased over the past day and now they both appear on the weak side of both tables with NZD being W3 and AUD being W1.

The recent weakness in the NZD could be down to the recent shock resignation of Prime Minister Jacinda Ardern.

The uncertainty surrounding this could see the NZD remain weak in the near future. 

The NZDCHF monthly timeframe shows the price in a long term downward trend. 

Price of this currency pair is now breaking through key support zones. 

Technical Observations

• The NZD is W3 and CHF is S1 on the day traders table.
• Price is trading below the Daily 200 Moving Average.
• Trendline support has been broken.
• Price could retest the recent lows of 0.5900 for selling opportunities.
• Recent swing lows of 0.5800 would be likely targets.