FxWirePro:NZD/CHF struggles to close below 0.7000, good to buy on dips
Major support – 0.7000 (demand area) NZD/CHF hits psychological level and is hovering around that level. It is currently trading around 0.70048. On the economic front Swiss inflation hits highest in five years and it giv…
NZD/CHF hits psychological level and is hovering around that level. It is currently trading around 0.70048.
On the economic front Swiss inflation hits highest in five years and it gives headache to Central bank to keep the Swiss franc weak. Swiss consumer prices Year on year was at 0.6% against 0.5% previous month.
NZD/CHF is in over sold level and RSI is around 28.50. It is expected to show a pull back in the coming days .
The pair major resistance is around 0.7075 (200 –day MA) and any break above will take the pair till 0.7149 (100 – day EMA)/0.7178 (55- day EMA).
On the lower side any close below 0.7000 will drag the pair till 0.6950/0.6860 (Jul 21st 2016 low).
It is good to buy on dips 0.7000 with SL around 0.6950 for the TP of 0.7075/0.7149
