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FxWirePro: NZD/CHF recovery capped at 20-DMA, scope for test of 200-DMA at 0.6745

NZD/CHF chart on Trading View used for analysis

  • NZD/CHF edges higher from session lows at 0.6843, trades at 0.6811 at the time of writing.
     
  • The pair finds stiff resistance at 20-DMA at 0.6822. Break above could see test of 5-DMA at 0.6843.
     
  • Improved risk-appetite buoying the antipodeans. But technical studies for the pair do not support bullish bias for the day.
     
  • Price action has closed below 21-EMA on Friday's trade and we see scope for test of 200-DMA support.
     
  • Any further downside only on decisive break below 200-DMA. On the flipside, close above 20-DMA could see upside resumption.
     
  • On the data front, we do not see anything of much significance from New Zealand this week.
     
  • Business NZ will be releasing their data on manufacturing this Friday. This is expected to have a medium impact on the kiwi.

Support levels - 0.6744 (200-DMA), 0.67

Resistance levels - 0.6822 (20-DMA), 0.6842 (5-DMA)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-CHF-holds-20-DMA-support-break-below-to-see-further-weakness-1469443) has hit TP1.

Recommendation: Book partial profits at lows, hold for further downside.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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March 21 05:30 UTC Released

NLUnem Rate Monthly SA

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3.4 %

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-1541 %

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January 31 00:00 UTC 596545596545m

ARAnnual Primary Balance*

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2016 bln ARS

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