- NZD/CHF bull sin control, but they could be running into the bear’s trap.
- Eyes on a significant and necessary correction of long bullish daily impulse.
The price of NZD/CHF has extended the upside in the open which leaves attention on the downside as the most probable path of least resistance in coming sessions.
The following illustrates the prospects of a significant daily retracement and how it could be traded from an hourly perspective.
Daily chart
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Hourly chart
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The conditions are still bullish but a correction and a break of subsequent support will put the bulls on track for a downside target as stated on the daily chart.
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