NZDCHF under bullish pressure after the earlier breakout of the pivotal resistance level 0.59500 (which stopped the two previous waves A and B, as can be seen below). The breakout of the 0.59540 coincided with the breakout of the 61.8% Fibonacci retracement of the previous sharp downward impulse wave from the middle of February. With the strong bullish New Zealand dollar sentiment seen across the markets today coupled with significant Swiss franc bearishness – NZDCHF is likely to extend the gains toward the next resistance level 0.61000 (target price for the completion of the active minor impulse wave 1).