Prices of the New Zealand franc fell this week and the pair was able to break the support levels of 0.4920 / 30, which turned into resistance against the pair, now the pair is on the rise during today's trading on Tuesday down to this resistance levels.
In light of the scarcity of economic data in both New Zealand and Switzerland, the Swiss franc is still expected to rise due to the fact that it is a safe haven currency in light of the uncertainty in the markets during the current period.
The new franc pair is now trading below the resistance levels of 0.4930 as it breaks the four-hour uptrend levels with a successful retest.
Expectations are now for the pair to decline to target the levels of 0.4860 as the first target, and then the levels of 0.4750, noting that the pair is on sale with each rise.
This scenario fails if the 0.5000 levels break higher.
