As coronavirus fears continue to intensify with more cases being reported in Europe and with health officials warning that if containment measures are not implemented then we may be at risk of a global pandemic, we see a tendency to invest in safe-havens. The NZD/CHF is particularly interesting as the Swiss Franc is considered one of the most sought after safe-haven currencies while the NZD is set for more losses with the RBNZ sending dovish signals.
The market has been in a major downturn and also looks on the short term chart very negative. We would hence like to sell at market now with SL at 0.6175 and TP at 0.6125.
