FxWirePro: NZD/CHF extends breakout at 200-DMA and Ichi cloud, good to go long above 0.7015

• NZD/CHF is extending breakout at 200-DMA and daily Ichi cloud last week, bias higher.
   
• The pair has broken above 200-DMA at 0.6944 after breakout at major trendline resistance.
   
• We see price action has broken out of daily cloud which is now strong support at 0.6927.
   
• Technical studies support upside in the pair, RSI strong above 60 levels and rising.
   
• Momentum studies are bullish. ADX is above 25 levels and rising with +ve DMI dominance.
   
• 200W SMA at 0.7015 is major resistance, break above will propel the pair higher.

Support levels - 0.6954 (5-DMA), 0.6944 (200-DMA), 0.6927 (cloud top)

Resistance levels - 0.7015 (200W SMA), 0.7067 (61.8% Fib retrace of 0.7290 to 0.6706 fall), 0.7117 (July 13 and Aug 15 high)

Recommendation: Good to go long on break above 0.7015, SL: 0.6950, TP: 0.7065/ 0.7115/ 0.7140.

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