NZD/CHF Price Analysis: Daily swing-trade opportunity on the cards

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.

Ross J Burland FXStreet

The swiss franc has been the best performing currency of late and has taken the kiwi for a ride.

NZD/CHF is in the hands of the bears on a long term analysis on the charts and the following illustrates where the next opportunity could arise on the daily chart.

Monthly chart

The monthly bullish impulse is being corrected and bears can seek an extension to at least 38.2% Fibonacci retracement.

Weekly chart

The week is on the verge of a bearish close and would be pointing towards a downside extension to the first monthly target.

Daily chart

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.

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.

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