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 -140.164 (Bearish)
FxWirePro's Hourly CHF Spot Index was at 138.04 (Bullish)

Technical Analysis: Bias Bearish
- Upside capped at 5-DMA which has turned south
- RSI and Stochs have rolled over from overbought levels
- MACD is showing a bearish crossover on signal line
- We see bearish divergence on RSI and Stochs
- 200-DMA is strong support, break below to see further weakness

Support levels - 0.6744 (200-DMA), 0.6669 (38.2% Fib), 0.6630 (55-EMA)
Resistance levels - 0.6797 (5-DMA), 0.68, 0.6888 (Nov 16 high)

Recommendation: Stay short on break below 200-DMA, SL: 0.68, TP: 0.67/ 0.6670/ 0.6630

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