FxWirePro: NZD/CHF consolidates break above 200-DMA, eyes 61.8% Fib at 0.6812

NZD/CHF chart on Trading View used for analysis

• NZD/CHF is trading in an extremely narrow range, days high at 0.6741 and low at 0.6723.
   
• The pair closed above 200-DMA on Tuesday's trade and is consolidating at current levels.
   
• Technical studies support gains. Stochs and RSI are biased higher. MACD is showing a bullish crossover on signal line.
   
• Further we see a 'Golden Cross' formation (bullish 50-DMA crossover on 200-DMA) on the daily charts which raises scope for upside.
   
• Immediate resistance above 200-DMA lies at 50-DMA at 0.6751 ahead of 0.6822 (Dec 18 high).
   
• Retrace below 200-DMA and dip below 5-DMA to see further weakness.

Support levels - 0.6717 (200-DMA), 0.6711 (5-DMA), 0.6652 (July 3 low)

Resistance levels - 0.6751 (50-DMA), 0.6812 (61.8% Fib), 0.6888 (Nov 16 high)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-CHF-struggles-at-200-DMA-stay-long-on-break-above-1484344) is progressing well.

Recommendation: Hold for targets.

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