FxWirePro: NZD/CHF ignores 'gravestone doji' formation, bounces off 55-EMA support, bias higher

NZD/CHF chart on Trading View used for analysis

• NZD/CHF ignores 'Gravestone Doji' formation at highs, bounces off 55-EMA support.
   
• The pair is extending break into daily cloud, intraday bias for the pair is bullish. 
   
• Technical analysis supports further upside in the pair. Bollinger bands are widening in support of rising volatility.
   
• The pair has resumed upside after a brief pause in the previous session, next major resistance lies at 0.6564 (cloud top).
   
• RSI is above 50 and biased higher, while Stochs also show bullish momentum. Next major bull target above cloud lies at 38.2% Fib at 0.6622.
   
• On the flip side, retrace and close below 55-EMA negates bullish bias, scope then for test of 0.6325 (trendline).

Support levels - 0.65 (55-EMA), 0.6455 (21-EMA), 0.6371 (Oct 8 low)

Resistance levels - 0.6564 (cloud top), 0.6603 (110-EMA), 0.6622 (38.2% Fib) 

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