NZD/CHF has been within a bearish
weekly trend since mid-June, with price creating lower highs on the daily timeframe
. More recently, price has seen a bullish
return into a zone of confluence that includes sloping resistance from the weekly, daily and 4H timeframes. This zone of confluence would lead us to the conclusion, that the latest bullish
run is a pullback in the overall bearish trend
, and that the most likely next step for price would be to fall back towards the support at 0.5970, thus continuing the overall bearish trend
A break above each of the resistance zones at approx. 0.6110 would invalid this analysis.