NZD/CHF Price Analysis: Bulls look to 0.6820 in a trend continuation playbook

NZD/CHF bulls seeking an upside extension to test the 0.68 area.
The price is still below an important resistance and a test of old resistance, new support, would be preferable.

Ross J Burland FXStreet

NZD/CHF is forming an upside bias on the daily chart with some work yet to do on the 4-hour time frame before bulls might want to commit towards an upside extension.

NZD/CHF daily chart

As can be seen, the price has been supported on a significant correction and the 10-day SMA is offering buttress to the upside bias.

A target of 0.6820 is a measured -272% Fibonacci retracement of the daily correction's range.

4-hour chart

However, from a 4-hour perspective, there could be some downside to come yet and a test of old resistance would offer structure to protect a subsequent position in a resumption in the upside.

Bulls will be looking for overhead resistance to give and offer a higher probability setup for the 0.6820 target.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD: Breakdown below trading range support near 1.1770 comes into play

The EUR/USD pair opens with a bearish gap at the start of a new week as the US-Iran war-led global flight to safety boosts the US Dollar. Spot prices, however, lack follow-through selling and manage to hold above mid-1.1700s during the Asian session.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold jumps over 2% toward $5,400 after US, Israel attack Iran

Gold is on fire at the start of the week, a widely expected move, as investors seek harbor in the traditional store of value, following the continued US and Israel attacks on Iran. The bright metal opened with a bullish gap of about $17 and rallied toward the $5,400 level as Asian traders hit their desks and reacted negatively to the weekend news of the Middle East conflict, rushing for cover in Gold.

Iran escalation: Quick thoughts on markets

Markets are likely to open the week with risk-off, with declines led by airlines, cyclicals and trade-exposed names, while energy, defense and “strategic” sectors may be relatively steadier.

Crisis in the Middle East: The market reaction

A primer on how markets will open on Monday, and why geopolitical risk may not be easily absorbed by financial markets this time around. Geopolitics and events between Iran, the US and the wider Middle East will dominate financial markets on Monday. The situation has continued to escalate as we move through Sunday.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.