FxWirePro: NZD/CHF breaks out of daily cloud, bullish momentum to see further upside

NZD/CHF chart on Trading View used for analysis

• NZD/CHF shows breakout at daily cloud, bullish momentum could see further gains.
   
• The pair is extending gains after breakout above 200-DMA, bias bullish.
   
• Technical indicators on daily charts suggest further upside for the pair.
   
• Stochs and RSI are biased higher and price action is above major moving averages.
   
• The pair is currently hovering around 61.8% Fib and next major resistance is seen at 0.6925 (trendline).
   
• On the flipside, immediate support is seen at 5-DMA at 0.6781. Break below 200-DMA negates bullish bias.

Support levels - 0.6781 (5-DMA), 0.6717 (50% Fib), 0.6701 (200-DMA)

Resistance levels - 0.6888 (Nov 16 high), 0.6925 (trendline), 0.6948 (78.6% Fib)

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