NZDCHF - Breakout Trade

I see an interesting reversal play to the upside on NZDCHF. This is a pure technicals play to trade the breakout on this week's session open.

1. Price fails to push to new highs and signal the start of a potential downtrend.
   
2. The massive selloff doesn't push price to new lows so we have a support formation.
   
3. Moving average crossover is an early signal that near-term momentum is picking up to the upside.
   
4. Upside breakout further supports... well, upside potential.