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2024-04-03 20:20:00
A Price Action Falling Wedge pattern formation on the 5 Min time frame chart supports NZDCHF Bullish bias. A break of 0.54210 will support the rise towards the target of 0.54240 the break of 0.54240 would push the price to 0.54260.
SUPPORT AND RESISTANCE LEVELS
- Pivot Point 0.54226
- Support S1: 0.54213, S2: 0.54196 , S3: 0.54183
- Resistance R1: 0.54243 , R2: 0.54256 , R3: 0.54273
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Age 0 BarsFull view
Falling Wedge
The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. As a reversal pattern, the falling wedge slopes down and with the prevailing trend.
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