- NZD/CHF is correcting a monthly bullish impulse with CHF strongest G10-FX on the board this week.
- Bears will seek out prior structure in a downside extension.
The swiss franc has been the best performing currency of late and has taken the kiwi for a ride.
The monthly bullish impulse is being corrected and bears can seek an extension to at least 38.2% Fibonacci retracement.
The week is on the verge of a bearish close and would be pointing towards a downside extension to the first monthly target.
The price would be expected to restest the prior support structure before extending to the downside and to at least the monthly 38.2% target.
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