NZD/CHF 1H Chart: Rectangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
After NZD/CHF broke a large-scale channel up on the daily time-frame to the downside, the pair has distanced itself from the pattern and entered a correction phase. The cross has established a trading range which it just confirmed for another time after a flattish upward motion. The current stickiness of the bottom part of the pattern signals risks below and might even lead to a break beneath the range in case the tendency extends. The upper bound is set at 0.7030 and the bottom one – 0.6988 which is also currently the immediate support.
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