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FxWirePro: NZD/CHF Trade Idea

Tuesday, October 16, 2018 6:54 AM UTC

NZD/CHF chart on Trading View used for analysis

FxWirePro Currency Strength Index for NZD/CHF: Bias Bullish
FxWirePro's Hourly NZD Spot Index was at 145.948 (Bullish)
FxWirePro's Hourly CHF Spot Index was at -108.022 (Bearish)

Technical Analysis: Bias Bullish
- Extending upside for the 4th straight session
- RSI above 50 and biased higher
- Stochs show bullish momentum
- Price has broken into daily cloud, tests 23.6% Fib

Support levels - 0.6447 (5-DMA), 0.6438 (21-EMA), 0.6371 (Oct 8 low)
Resistance levels - 0.6512 (Upper BB), 0.6564 (cloud top), 0.6622 (38.2% Fib)

Recommendation: Good to go long on break above 23.6% Fib, SL: 0.6475, TP: 0.6515/ 0.6565/ 0.6620

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

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FxWirePro: NZD/CHF Trade Idea

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