FxWirePro: NZD/CHF rangebound above 5-DMA, weakness only on break below

NZD/CHF chart on Trading View used for analysis

• NZD/CHF is trading in a narrow range with session high at 0.6892 and low at 0.6869.
   
• The pair is holding support at 5-DMA and break below will see weakness til 55-EMA at 0.6776.
   
• Price action is above cloud and major moving averages. Bias higher as long as 5-DMA support holds.
   
• Technical studies support upside in the pair. Momentum with the bulls.
   
• Next major resistance lies at 0.6925 (trendline). Break above eyes 78.6% Fib at 0.6948.
   
• On the flipside, 55-EMA is major support at 0.6776. Breach there will see weakness till 200-DMA.

Support levels - 0.6856 (5-DMA), 0.6812 (61.8% Fib), 0.6776 (55-EMA)

Resistance levels - 0.6925 (trendline), 0.6948 (78.6% Fib), 0.70

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