NZDCHF under bearish pressure today following the earlier downward reversal from the major long-term resistance level 0.63000 (which has been steadily reversing the price from the start of February as can be seen
form the daily NZDCHF chart below) – intersecting with the upper daily Bollinger Band. Given the overbought daily Stochastic and the prevailing bullish CHF sentiment across the currency markets – NZDCHF is likely to fall further toward the next support level 0.62300 (low of the previous Morning Star and the former strong resistance level from July).