FxWirePro: NZD/CHF bounces off 21-EMA, break above 61.8% Fib raises scope for further upside

NZD/CHF chart on Trading View used for analysis

• NZD/CHF trades 0.14% higher on the day at 0.6830 at the time of writing.
   
• The pair is extending upside for the 4th straight session after bounce off 21-EMA support.
   
• Technical studies support upside in the pair. RSI and Stochs are biased higher.
   
• Price action has broken above 61.8% Fib and is on track to test 78.6% Fib at 0.6952.
   
• On the flipside, 5-DMA is immediate support at 0.6789. Break below 21-EMA negates bullish bias.

Support levels - 0.6789 (5-DMA), 0.6752 (21-EMA), 0.6723 (50% Fib)

Resistance levels - 0.6888 (Nov 16 high), 0.69, 0.6952 (78.6% Fib)

Recommendation: Good to stay long on dips, SL: 0.6750, TP: 0.6885/ 0.6950

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