NZD/CHF 1H Chart: Kiwi tests trend-line
The New Zealand Dollar has gained momentum against the Swiss Franc since May 29. At the time, the Kiwi reversed from the bottom boundary of a medium-term wedge near 0.6820. The pair has been trading sideways along a downward-sloping trend-line which was formed early in April.
It seems that the given line might be breached today. This should result in a continuous surge until the upper channel boundary is reached circa 0.7000. The upper wedge line, is likewise located there. Technical indicators flash mixed signals, so the bearish scenario should likewise be considered.
In case the pair breaches all three SMAs on both the 1H and 4H time-frames near 0.69, it is likely that the Kiwi returns to the lower wedge boundary or the monthly S1 at 0.6850 and 0.6795, respectively.
It seems that the given line might be breached today. This should result in a continuous surge until the upper channel boundary is reached circa 0.7000. The upper wedge line, is likewise located there. Technical indicators flash mixed signals, so the bearish scenario should likewise be considered.
In case the pair breaches all three SMAs on both the 1H and 4H time-frames near 0.69, it is likely that the Kiwi returns to the lower wedge boundary or the monthly S1 at 0.6850 and 0.6795, respectively.
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