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 -26.2643 (Neutral)
FxWirePro's Hourly CHF Spot Index was at 106.714 (Bullish)

Technical Analysis: Bias Bearish
- Price rejected at highs with a Gravestone Doji formation
- Pair slips below 5-DMA, 5-DMA has turned
- Stochs have rolledover from overbought levels, RSI is biased lower
- Bearish divergence on RSI and Stochs adds to bearish bias

Support levels - 0.6817 (61.8% Fib), 0.6744 (200-DMA)
Resistance levels - 0.6885 (5-DMA), 0.6952 (78.6% Fib)

Recommendation: Good to stay short on upticks, SL: 0.6885, TP: 0.6815/ 0.6745

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