The Kiwi had rallied against the Swissie to .7677 on 3/28 which was similar to prior resistance to 10/17 and 11/7 late last year. This area has been tough resistance for some time and price has been selling for nearly a month since then. Aside from these peaks price has moved sideways through a channel extending from as low as .7100 and now has come upon a level that has served as a short term support/resistance line on many occasions at .7522.
The True Strength Indicator looks ready to turn up at the zero line and the short term pennant formation is almost complete for resumption of the upside. See the chart.
The True Strength Indicator looks ready to turn up at the zero line and the short term pennant formation is almost complete for resumption of the upside. See the chart.