FxWirePro: NZD/CHF Trade Idea

NZD/CHF chart on Trading View used for analysis

FxWirePro Currency Strength Index for NZD/CHF: Bias Bearish
FxWirePro's Hourly NZD Spot Index was at -100.535 (Bearish)
FxWirePro's Hourly CHF Spot Index was at 42.9979 (Neutral)

Technical Analysis: Bias Bearish
- Upside rejected at 55-EMA, extends downside for the 3rd straight session
- Slips below 21-EMA
- 5-DMA has turned lower
- RSI is biased lower and Stochs are on verge of rollover from overbought levels

Support levels - 0.64 (20-DMA), 0.6356 (61.8% Fib), 0.63
Resistance levels - 0.6477 (5-DMA), 0.65, 0.6520 (55-EMA)

Recommendation: Stay short on close below 21-EMA, SL: 0.6475, TP: 0.64/ 0.6355/ 0.63

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