ForexGoldenBoy

Market Review: NZDCHF the analyst's dilemma

FX:NZDCHF   New Zealand Dollar/Swiss Franc


A chart analysis should remain relevant until it has been invalidated.
The analysis of the NZDCHF shows the pair in a bullish channel, which theoretically will lead it to a new high.
But for the past few days, we must recognize that the CHF is strengthening against several of its counterparts
The effect is visible on USDCHF - AUDCHF - GBPCHF (...) which have all tumbled downwards in recent days.
So the bullish scenario may be in danger here too. Nevertheless, as long as the slope of the bullish channel remains positive and there is no breakout.
Graphically, it is difficult to take sides for the decline.
And yet the risk is real...
The dilemma is on the one hand to know if because the CHF is stronger than most of its counterparts in recent days, it will necessarily be against all others without exception.
And on the other hand, if we think so, should we override the rules of chart analysis to make a decision on a rather fundamental basis?
To each his answer to the question...
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