Chart of the Day - NZD/CHF

Chart of the Day - NZD/CHF

 
NZD/CHF
-0.41%
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USD/CHF
-0.04%
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NZD/USD
-0.34%

If you think the world is not a safe place and looking for a place where traders may "hide out," you may want to check out the NZD/CHF.

The USD/CHF is back at resistance, and with the CHF a traditional "safe haven" currency, it may reassert its role in the coming days. NZD/USD is trading heavily, and the NZD is usually regarded as a risky currency, especially in an uncertain world like the one we live in now.


The chart pattern here suggests that we are in an ascending wedge nearing the 38% retracement. While below the 5300 level, this may be a great short trade setup.


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