FxWirePro: NZD/CHF resumes upside after brief consolidation above 200-DMA, stay long above 61.8% Fib

NZD/CHF chart on Trading View used for analysis

• NZD/CHF is trading 0.55% higher on the day at 0.6818 at the time of writing.
   
• After a brief period of consolidation the pair is set to resume upside.
   
• Price action holds above 200-DMA support and is above daily cloud and major moving averages.
   
• Momentum studies are bullish and we see scope for test of 0.6955 (Mar 12 highs).
   
• That said, we evidence bearish divergence on stochs which keeps downside risks.
   
• 5-DMA is immediate support at 0.6792 and we see bullish invalidation only on break below 200-DMA.

Support levels - 0.6792 (5-DMA), 0.6744 (200-DMA)

Resistance levels - 0.6817 (61.8% Fib), 0.69, 0.6955 (Mar 12 highs)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-CHF-Trade-Idea-1454105) has hit all targets.

Recommendation: Good to go long on break above 61.8% Fib (0.6817), SL: 0.6740, TP: 0.69/ 0.6955

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