NZD/CHF Potential Bullish Reversal Setup

NZD/CHF Potential Bullish Reversal Setup 🔄📈

📊 Chart Analysis:

The chart shows a potential bullish reversal for NZD/CHF, supported by technical patterns and key levels:

🧠 Key Technical Highlights:
🔹 Double Bottom Formation (🟠 Circles)

A clear double bottom pattern can be seen around the 0.48300 support zone, signaling potential reversal from the downtrend.

🔹 Strong Support Zone 📉

Price bounced from a historically respected support zone (~0.48200–0.48400), which held several times in the past (marked with green arrows).

🔹 Downtrend Breakout 🔺

A short-term bearish channel has been broken to the upside, indicating potential bullish pressure.

🔹 Target Zone 🎯

Immediate bullish target is around 0.49265, aligning with previous resistance.

🔹 Resistance Area (🔵 Boxes)

Next significant resistance lies at 0.49400–0.49800, which may act as the next hurdle if price breaks the 0.49265 level.

✅ Conclusion:
As long as price holds above 0.48400, bulls may aim for the 0.49265 🎯 target. A breakout above that level can open the path to higher resistances.

📌 Bullish Bias maintained above support zone — monitor for volume confirmation and retest strength.