FX.co ★ NZD/CHF Around the 3rd Monthly Support, (Rebound), February 25, 2011 (Daily Strategy)

NZD/CHF

The negative sentiment in the financial markets in general and the earthquake that had struck New Zealand in particular had burdened the New Zealand – Swiss Franc pair, which had a decrease over 300 pips this week, until arriving the 3rd monthly support around 0.6880,the strong monthly support , where the pair had been braked and is currently even beginning to show signs of recovery. Technically, the price o the pair is fairly low, approaching a strong support level.

Therefore, it is possible to enter a buy deal even at the present price rates.
with an initial target 0.7160 and as our final goal around 0.7440 Swiss francs for one New Zealand dollar.