NZD/CHF 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA

Following a breakout from the rising wedge to the downside, NZD/CHF entered the bullish themes in an ascending channel pattern. The pair is now on its way towards the upper trend-line of the formation in a steep and conclusive motion, but we will look for 1.7144 to send it packing again, respecting the pattern. The way north will, however, be anything but smooth with strong supply pressures at 0.7134/36. Immediate ground lies at 0.7111 and represents the upper border of a multi-support area which is unlikely to let anything slide. 

© Dukascopy Bank SA
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