NZD/CHF
2020-01-20 03:47:03
Timeframe: 1 Day
Interesting set up.
-Stochastic and RSI both showed developing bearish divergence beginning in early December.
-Strong rejection was made at the 0.618 Fibonacci level near the end of December pushing price down and falling out of the trend line.
-Currently price has wicked up and has been rejected off the broken trend line (around the 0.6420 area), which could lead to further downside over the next few weeks.