NZDCHF Bullish Outlook – Wedge Breakout Setup in Play

Ascending Structure: Price action has been respecting a series of higher lows, supported by an ascending trendline – a key indicator of bullish pressure.

Bullish Flag/Wedge Formation: The current price is consolidating inside a rising wedge, typically seen as a continuation pattern in bullish trends, especially when preceded by a strong rally.

Breakout Zone: A breakout above the wedge resistance (~0.4915–0.4930) opens the path to retest the recent high at 0.4953, and further to 0.4985 resistance.

Volume & Momentum: If confirmed by bullish momentum or strong candle close above the wedge, it validates further upside.

Key Levels:

Support: 0.4870 (trendline base), 0.4800 (invalidates setup)

Immediate Resistance: 0.4930

Targets:

TP1: 0.4953

TP2: 0.4985 (measured move from wedge)

✅ Confluence for Bullish Setup:
Price respecting higher low structure.

Bullish consolidation wedge near previous highs.

Clean upside path if price breaks above 0.4930.

⚠️ Invalidation:
If price breaks below 0.4870, this would invalidate the bullish structure and could suggest a retest of 0.4800, making the current setup a potential bull trap.