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EURNZD and EURCHF set for divergent moves after key reversals

Analysts point to an EURNZD push toward 1.9700 after a rebound from 1.9540, while EURCHF is flagged to fall toward 0.9300 after reversing near 0.9400.

Reported · Written up by our desk · Major Pairs

Action Forex said the EURNZD currency pair recently rebounded from a long-term support zone around 1.9540, which has been influencing price action since February, alongside the lower daily Bollinger Band.

The outlet expects the move to form a Hammer candlestick reversal pattern if the pair closes near current levels, citing the strength of the 1.9540 support area.

Based on the technical setup, Action Forex said EURNZD could extend higher to the next resistance level at 1.9700.

Separately, Action Forex flagged EURCHF as a sell setup after it reversed from a resistance zone between the pivotal 0.9400 area, the 61.8% Fibonacci correction of a downtrend from March 2025, and the upper daily Bollinger Band.

The outlet said EURCHF is likely to drop toward support at 0.9300 following that reversal.

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