NZD/CHF is trending down, having rejected the 50 and 200 Moving Averages as well as the upward trendline. Fibonacci, applied to the last corrective wave where 200 MA was rejected, shows that the pair broke above 161.8% Fibs resistance which opens doors to further rise.
Consider buying NZD/CHF at the current rate (0.7184) targeting either 261.8% (0.7227) or 361.8% Fibs (0.7275). Suggested stop loss is below 50 Moving Average.
Support: 0.7178, 0.7148
Resistance: 0.7227, 0.7275
