The NZDCHF approaches from the critical support – Analysis – 13-4-2021

The NZDCHF price resumed forming bearish correctional trading, affected by stochastic negativity, to notice its approach from the critical support at 0.6448, the upcoming scenario depends on the strength of this support, and its stability makes us expect forming strong bullish waves that might extend in the current period to 0.6550 and 0.6640.

The continuation of facing negative pressures and reaching below the mentioned critical support will return the price to the bearish track again, which provides a chance for targeting more of the negative levels by reaching 0.6380 reaching 50% Fibonacci correction level at 0.6290.

The expected trading range for today is between 0.6450 and 0.6550

The expected trend for today: Bullish