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NZDCHF Needs To Conquer 200-day SMA In Order To Justify TL Break

18 December 2017 11:24 AM BDT
NZDCHF Needs To Conquer 200-day SMA In Order To Justify TL Break

Even after successfully clearing the 20-week long descending trend-line resistance, the NZDCHF failed to surpass the 200-day SMA, at 0.6950, on a daily closing basis, which now becomes an important barrier for the pair to conquer in order to aim for 0.6980 and the 0.7000 round-figure. Should the quote manages to sustain its break above 0.7000 mark, it can then challenge the 0.7030, the 0.7090 and the 0.7130 resistance-levels during its gradual advances.

Alternatively, the resistance-turned-support line of 0.6900 could gain sellers' attention if prices reverse from present levels, breaking which 0.6880 & the 50-day SMA level of 0.6845 might reappear on the chart. However, pair's extended south-run beneath 0.6845 may find it difficult to break 0.6820 and the 0.6780 support-levels.

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