NZDCHF Looks for Bearish Move

After gradually making a throwback to its previous key support level of 0.64000 in recent weeks, NZDCHF looks like it may begin to take direction. Given that the price has broken through the key level and as the 200-day moving average hovers above, the recent close on Friday suggests a test of the level.

  • Should the test be met with resistance and failure to break above 0.64000 the pair will eye its next support at 0.62500.
  • In the event that the pair breaks above 0.64000 then the pair will continue its uptrend.