FX.co ★ Technical analysis of USD/CHF and NZD/USD

USD/CHF:

The chart shows the movement of USD/CHF in the daily (D1) chart.

The pair is forming a new (global) downward trend.

Quotes will decline further, most likely to 0.963-0.956 (marked with a yellow square), if the support level of 0.9723 (sloping purple line) is broken. But shortly after, there will be attempts to bounce back to 0.9723.

Another possible scenario is a rebound from the support level of 0.9723 to 0.987.

NZD/USD:

The chart shows the movement of NZD/USD in the daily (D1) chart.

The pair has been trading inside a narrow channel (marked with white and blue rectangles) for the past two days. Because of this, there is a chance that a new upward trend will develop, but it will be subject to the breakdown of the current resistance level of 0.615. Another potential scenario is the breakdown of the support level of 0.607 and a further sharp decline.