US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
NZD/CHF is at the important border
2019-11-11 • Updated
On H4 of NZD/CHF, the pair has been trading near the important border of the trendlines. The pair was boosted by the RBNZ meeting where the central bank skipped a risk of the rate cut. Trendlines put pressure, however, if the price stays above 0.64965, we may see a rise to the levels of the 0.6507-0.6514 range. To be sure in the further rise, the pair needs to stick above 0.6514, then we can anticipate an increase to 0.6539.
As the pair is trading near the trendline and previous picks of the rebound, we may see a correction. Bears need to keep the pair below 0.64695 to pull it to 0.6475.
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