NZDCHF (1H) - short term bullish bias
There is no lack of buying interest after the pair bounced off the daily support area of 0.6180. The latest consolidation might have come to an end as the price broke above 0.6270 with much conviction. The 20-hour moving average crossed above the 30-hour one in a textbook bullish crossover. As the RSI ventures later into the over-bought area, a pullback towards 0.6260 could be a better opportunity for later-comers to join the surge.
Key support: 0.6260
Key resistance: 0.6310
There is no lack of buying interest after the pair bounced off the daily support area of 0.6180. The latest consolidation might have come to an end as the price broke above 0.6270 with much conviction. The 20-hour moving average crossed above the 30-hour one in a textbook bullish crossover. As the RSI ventures later into the over-bought area, a pullback towards 0.6260 could be a better opportunity for later-comers to join the surge.
Key support: 0.6260
Key resistance: 0.6310