FxWirePro: NZD/CHF pauses at major trendline resistance at 0.69, break above required for further upside

NZD/CHF chart - Trading View 

• NZD/CHF has pauses upside at major trendline resistance at 0.69.
   
• Decisive break above is required for further upside. 
   
• The pair is extending break above 20-DMA. Technical studies have turned bullish.
   
• Stochs and RSI have turned bullish. MACD is on verge of bullish crossover on signal line.
   
• Breakout at 0.69 will accentuate upside. Next major resistance lies at 0.6939 (Dec 4 high).
   
• On the flipside, the pair finds immediate support at 20-DMA at 0.6843. Break below 55-EMA negates bullish bias.

Support levels - 0.6851 (20-DMA), 0.6795 (55-EMA), 0.6687 (200-DMA)

Resistance levels - 0.69 (trendline), 0.6915 (Feb 18 high), 0.6939 (Dec 4 high)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-CHF-extends-break-above-20-DMA-eyes-trendline-resistance-at-069-1508972) has hit TP1/2.

Recommendation: Book partial profits at highs. Watch out for breakout at 0.69 for further upside.

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