NZD/CHF chart on Trading View used for analysis
- NZD/CHF trades 0.75% higher on the day at 0.6549 at the time of writing.
- The pair has bounced off strong support at 21-EMA and we see weakness only on break below.
- Momentum studies are biased higher and RSI shows strength at 59 levels.
- The pair finds immediate resistance at cloud top at 0.6564, break above to see further upside.
- On the flipside, breach at 21-EMA support will see test of 50-DMA at 0.6450 ahead of 0.6423 (cloud base).
Support levels - 0.6517 (5-DMA), 0.6488 (21-EMA), 0.6450 (50-DMA)
Resistance levels - 0.6564 (cloud top), 0.6628 (38.2% Fib)
Recommendation: Good to go long on dips, SL: 0.6485, TP: 0.6570/ 0.6625
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
