NZD/CHF is extending upside after bouncing off 200-DMA at 0.6930, bias higher.
Price is hovering around 78.6% Fib retrace of 0.7094 to 0.6737 fall at 0.7018, breakout above will see further upside.
Technical studies are supporting further gains in the pair. RSI is above 50 levels and biased higher.
Stochs are showing a rollover from oversold levels and we see +ve DMI crossover on -ve DMI.
Break above 78.6% Fib finds next major resistance at 88.6% Fib at 0.7053.
On the flipside, we see strong support at 0.6960 (nearly converged 61.8% Fib and trendline). Weakness likely on break below.
We see bullish invalidation only below 200-DMA at 0.6930.
Support levels - 0.6990 (5-DMA), 0.6960 (nearly converged 61.8% Fib and trendline), 0.6930 (200-DMA)
Resistance levels - 0.7018 (78.6% Fib), 0.7053 (88.6% Fib), 0.71
Good to go long on break above 78.6% Fib) at 0.7018, SL: 0.6960, TP: 0.7050/ 0.71/ 0.7125
Price is hovering around 78.6% Fib retrace of 0.7094 to 0.6737 fall at 0.7018, breakout above will see further upside.
Technical studies are supporting further gains in the pair. RSI is above 50 levels and biased higher.
Stochs are showing a rollover from oversold levels and we see +ve DMI crossover on -ve DMI.
Break above 78.6% Fib finds next major resistance at 88.6% Fib at 0.7053.
On the flipside, we see strong support at 0.6960 (nearly converged 61.8% Fib and trendline). Weakness likely on break below.
We see bullish invalidation only below 200-DMA at 0.6930.
Support levels - 0.6990 (5-DMA), 0.6960 (nearly converged 61.8% Fib and trendline), 0.6930 (200-DMA)
Resistance levels - 0.7018 (78.6% Fib), 0.7053 (88.6% Fib), 0.71
Good to go long on break above 78.6% Fib) at 0.7018, SL: 0.6960, TP: 0.7050/ 0.71/ 0.7125