NZDCHF is clearly trending down and currently is below both 50 and 200 Moving Averages. The pair broke below the descending channel and yet failed to test any of the Fibonacci support levels applied to the channel breakout point.
Consider selling NZDCHF near the channel breakout point - 0.7022, targeting either 38.2% (0.6980), 23.6% (0.6927) or 0% Fibs (0.6842). The stop loss should be just above the 50 Moving average, approximately 0.7045.
Support: 0.6980, 0.6927, 0.6842
Resistance: 0.7022, 0.7065
From www.instaforex.com http://ift.tt/2dm4vAR
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