FX.co ★ Daily Video Analysis: NZDCHF facing bearish pressure, potential for a further drop!

Today we take a look at NZDCHF. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. NZDCHF is currently facing bearish pressure, where price could potentially fall further from our sell entry at 0.62825, which is in line with our 23.6% Fibonacci retracement level, towards our first support level at 0.61760, which is in line with our 50% Fibonacci retracement level. It is also worth noting that price is trending below EMA (34), which shows bearish pressure in line with our analysis.