# NZD/CHF



## Cam019 (27 September 2020)

Here is an interesting one - NZD/CHF.

4 retests of the 0.62000 level with price unable to hold it. The last two retests have formed interesting structure - two lower highs and two lower lows in a tighter range under a key psychological area of resistance.


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## rnr (27 September 2020)

@Cam019 

Just my take on a possible outcome:-

Two a-b-c waves have formed from the March 19th low (red lines) which are waves A & B of a larger A-B-C pattern.
Wave C, which is currently forming (blue lines) potentially an impulse wave (5 wave structure) which will hopefully see price overcome the 62¢ barrier.

Cheers,
Rob


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## willoneau (27 September 2020)

Cam019 said:


> Here is an interesting one - NZD/CHF.
> 
> 4 retests of the 0.62000 level with price unable to hold it. The last two retests have formed interesting structure - two lower highs and two lower lows in a tighter range under a key psychological area of resistance.
> 
> View attachment 112320



Hi Cam 019,
Is your bias long or short?
If it was me I would be looking to swing trade between the support and resistant zones until it broke either way.


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## willoneau (27 September 2020)

On the weekly chart we are seeing higher lows and lower highs so bias is neutral. The big spike down could be indication of trend direction change but I would expect a move back down to take out all the long stops located under the swing lows before it does.
Maybe back down to around 5700.


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## willoneau (27 September 2020)

On the daily the last bar is an indecision bar so hard to determine direction bias for tomorrow. On the 4hourly the bias is to the long but I would be waiting and looking for a signal at around 6050 to go long if that was my bias?
Take out Fridays low then turn up maybe.


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