FxWirePro: NZD/CHF extends break above 20-DMA, eyes trendline resistance at 0.69

NZD/CHF chart - Trading View 

• NZD/CHF retraces above 20-DMA, intraday bias bullish.
   
• The pair is trading 0.37% higher on the day at 0.6880 at 1300 GMT.
   
• Technical studies have turned bullish. Scope for test of trendline resistance at 0.69.
   
• Stochs and RSI have turned bullish. MACD is on verge of bullish crossover on signal line.
   
• Breakout at 0.69 will accentuate upside. Next major resistance lies at 0.6939 (Dec 4 high).
   
• On the flipside, the pair finds immediate support at 20-DMA at 0.6843. Break below 55-EMA negates bullish bias.

Support levels - 0.6844 (20-DMA), 0.6790 (55-EMA), 0.6749 (110-EMA)

Resistance levels - 0.69 (trendline), 0.6915 (Feb 18 high), 0.6939 (Dec 4 high)

Recommendation: Good to go long on dips, SL: 0.6840, TP: 0.69/ 0.6915/ 0.6940

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