- NZD/CHF is extending gains for the 4th straight session, bias higher.
- The pair is trading 0.52% higher on the day 0.6771 at the time of writing.
- Price is extending upside after break above 5-DMA and has taken out 23.6% Fibo.
- Next major resistance lies at 21-EMA at 0.6794. Break above will see further upside.
- Technical indicators are turning bullish. Stochs have rolled over from oversold levels and RSI is biased higher.
- We also evidence bullish divergence on Stochs which raises scope for upside in the pair.
- Close below 5-DMA will negate bullish bias.
Support levels - 0.6763 (23.6% Fib), 0.6718 (5-DMA), 0.67
Resistance levels - 0.6794 (21-EMA), 0.6831 (32.8% Fib), 0.6881 (50-DMA)
Recommendation: Good to go long around 0.6760, SL: 0.6715, TP: 0.6830/ 0.6880
FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at 96.5146 (Bullish), while Hourly CHF Spot Index was at -132.637 (Bearish) at 1140 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
