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FxWirePro: NZD/CHF slips below 20-DMA, on track to test 55-EMA at 0.68

NZD/CHF chart - Trading View 

  • NZD/CHF is trading 0.16% lower on the day at 0.6837 at 1030 GMT, bias lower.
     
  • The pair has slipped below 20-DMA and is on track to test 55-EMA support at 0.6807.
     
  • Technical indicators have turned bearish. RSI has slipped below 50 and Stochs show bearish momentum.
     
  • Upside remains capped at 5-DMA at 0.6850. Break above negates bearish bias.
     
  • 55-EMA is major support and any further weakness only on break below.

Support levels - 0.6807 (55-EMA), 0.6791 (23.6% Fib), 0.6763 (110-EMA)

Resistance levels - 0.6850 (5-DMA), 0.6884 (Mar 18 high), 0.6915 (trendline)

Recommendation: Stay short on upticks, SL: 0.6855, TP: 0.6810

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

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