NZD/CHF chart on Trading View used for analysis
- NZD/CHF is extending breakout at daily cloud, bullish momentum to continue.
- The pair is trading 0.17% higher on the day at 0.6862 at 1125 GMT, bias bullish.
- Technical indicators on daily charts suggest further upside for the pair.
- Stochs and RSI are biased higher and price action is above major moving averages.
- The pair is trading above 61.8% Fib and next major resistance is seen at 0.6930 (trendline).
- On the flipside, immediate support is seen at 5-DMA at 0.6814. Break below 200-DMA negates bullish bias.
Support levels - 0.6814 (5-DMA), 0.6717 (50% Fib), 0.6701 (200-DMA)
Resistance levels - 0.6888 (Nov 16 high), 0.6930 (trendline), 0.6948 (78.6% Fib)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-CHF-struggles-at-200-DMA-stay-long-on-break-above-1484344) has hit all targets.
Recommendation: Book partial profits, hold for test of trendline resistance at 0.6930
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
