Since September, the NZD/CHF exchange rate has been appreciating within a rising wedge pattern.
From a theoretical perspective, it is likely that the currency pair could breach the predetermined pattern within the following trading sessions. Note that the pair could gain support from the Fibos 50.00% and 38.20%, located at 0.6246 and 0.6040 respectively.
Meanwhile, note that the exchange rate could gain support from the 55-, 100– and 200-period moving averages in the 0.6320 area. Thus, bulls could continue to prevail in the market.
