NZD/CHF Bounces Off Key Support

The New Zealand dollar climbed after the RBNZ’s chief economist said that the outbreak has limited effect on monetary policy.

The pair saw buying interest at December’s low at 0.6250. The RSI’s bullish divergence in this demand zone was an important signal that sellers had become less aggressive.

The subsequent rally above 0.6330 is a confirmation that a rebound is underway.

0.6415 would be an intermediate resistance. 0.6300 is fresh support in case of a pullback as the RSI inches towards an overbought situation.

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