The NZD/CHF currency pair maintained relative stability during the latest trading session, remaining within the confines of its established bullish channel. However, trading activity appeared subdued, largely due to multiple resistance levels near the 0.8300 mark, which have limited prospects for further gains at this time.
Persistent inability to break above this resistance zone is expected to strengthen the bearish correction phase. Analysts anticipate a potential decline toward 0.8240, with the possibility of further downward pressure testing the bullish channel’s support around 0.8210.
Conversely, for the bullish momentum to regain traction, the pair must sustain repeated closing prices above the 0.8300 barrier. Success in this scenario could open the path toward positive targets at 0.8375 and 0.8415.
For today, the projected trading range for NZD/CHF is between 0.8210 and 0.8300.
Trend outlook: Bearish
