The NZDCHF takes breath – Analysis – 12-8-2019

The NZDCHF pair formed strong negative attack recently to record many negative targets by reaching 0.6215 level, while the price current rebound above 61.8% Fibonacci correction level hints the attempt to take a breath to gather new negative momentum followed by attempting to resume the negative attack that targets 0.6165 followed by reaching the key support 0.6100.

We will depend on 0.6330 level forming additional resistance to decrease the chances of forming strong bullish trades to increase the chances of gathering new negative momentum and ease the attempts to reach the suggested additional negative targets.

The expected trading range for today is between 0.6330 and 0.6200

The expected trend for today: Bearish