NZD/CHF chart - Trading View
- NZD/CHF halts 2 days of upside and has resumed weakness.
- Upside was capped below 55-EMA and the pair has slipped below 5-DMA.
- The pair is trading 0.42% lower on the day at 0.6764 at 1030 GMT.
- Price action is consolidating below 55-EMA and we see scope for test of cloud base at 0.6714.
- Further weakness likely to take the pair to 200-DMA at 0.6682. Bearish invalidation above 55-EMA.
Support levels - 0.6738 (Mar 29 low), 0.6714 (cloud base), 0.6682 (200-DMA)
Resistance levels - 0.6804 (55-EMA), 0.6815 (21-EMA), 0.6880 (Mar 26 low)
Recommendation: Good to go short on upticks, SL: 0.6820, TP: 0.6740/ 0.6715/ 0.6685
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
