FxWirePro: NZD/CHF Trade Idea

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 130.128 (Bullish)
FxWirePro's Hourly CHF Spot Index was at -96.6255 (Bearish)

Technical Analysis: Bias Bullish
- Price action above cloud and major moving averages
- The pair has bounced off strong support at 0.6730 (nearly converged 21-EMA and 200-DMA)
- Momentum studies are bullish, RSI is at 71 with strong upside bias
- MACD is on verge of bullish crossover on signal line
- 5-DMA is immediate support at is sharply higher

Support levels - 0.6841 (5-DMA), 0.6817 (61.8% Fib), 0.6743 (200-DMA)
Resistance levels - 0.6952 (78.6% Fib), 0.6978 (June 14 high), 0.7032 (88.6% Fib)

Recommendation: Good to go long on dips around 0.6890, SL: 0.6830, TP: 0.6950/ 0.6980/ 0.7030

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