The NZD/CHF currency pair has been trading within an ascending channel since the middle of May.
From a theoretical perspective, it is likely that the exchange rate could continue to extend gains within the given channel in the medium term. In this case the rate could reach the Fibo 61.80% at 0.6450 by the beginning of August.
Meanwhile, note that the pair is pressured by the 55-, 100– and 200-hour moving averages. Thus, a breakout south could occur, and the rate could re-test the psychological level at 0.5300.
