The NZD/CHF currency pair has been moving in an ascending channel after the it reversed from the bottom border of a dominant descending channel pattern on September 19.
Currently, the exchange rate is trading near the upper boundary of an ascending channel at 0.6681 during the morning hours of Friday’s trading session. Moreover, the pair breached a resistance cluster formed by the combination of the weekly and the monthly PPs near the 0.6682 region.
Everything being equal, it is likely that the currency exchange rate makes a brief retracement south towards the weekly R1 at 0.6589 during the following trading sessions.
