NZDCHF Daily S/R| Swing High| Price Action| Trend

Evening Traders,

Today’s analysis – NZDCHF – trading above its Daily S/R where a retest is probable,

Points to consider,
- Price Action Impulsive
- Daily S/R Support
- Swing High Objective
- .618 Fibonacci Confluence

NZDCHF’s immediate price action is corrective, trading towards the Daily S/R where a long bias is valid.

The Swing High is the immediate objective, exceeding this level will increase the probability of a trend continuation.

The .618 Fibonacci is in current confluence with the Daily S/R, holding this trade location is critical for a continuation.

Overall, in my opinion, NZDCHF is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

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