Friday, March 23, 2007

NZD/CHF - 4 HRS CHART
A POSSIBLE REVERSAL ON THE CARD...



NZD/CHF rally has extended past the 0.8653. So now focus will be on 0.8687 (cluster top). This is where the rally from 0.8311 will equal the 0.8196-0.8563 rally. The level of 0.8687 and 4 hour RSI hovering around 70 mark is signalling the ending of a 3 wave correction of the 0.8778-0.8196 decline and possibly it can give a similar decline. So the turning point level is 0.8622 and then at 08653 which to be believed as the strong support for this pair.