"Bullish Setup Forming on NZD/CHF – Targets in Sight!"

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🔹Technical Analysis of NZDCHF

▪Market Structure Overview
The pair is exhibiting a clear bullish structure after breaking out of a consolidation phase and forming higher highs and higher lows. The current price action suggests continued bullish momentum.

▫Key Zones Identified

▪Support Level:
Around 0.47100, this level has acted as a strong support zone where price bounced multiple times, indicating buying interest.

▪Supply Zone / 1st Target Area:
Near 0.47550, this is the next immediate resistance level, where sellers previously stepped in. Price may face some reaction here.

▪Final Resistance Area:
Around 0.48000, this is the ultimate bullish target. It marks a significant resistance zone from previous price action.

▫Trade Scenario

▪Bullish Continuation:
If price holds above the support level at 0.47100, a breakout toward the 0.47550 supply zone is likely, with potential extension to 0.48000.

▪Pullback Possibility:
A temporary dip back to the support before a continuation move is possible, aligning with the blue arrow projection.

▪Conclusion
The chart structure favors a bullish outlook as long as the price remains above the identified support. Traders may look for buying opportunities on pullbacks with targets at 0.47550 and 0.48000.

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