I’ve written more about NZD/CHF in the past 10 days than I ever thought I would. It was the best trade this week, gaining a whopping 4.3%, or 322 pips.
I wrote about analysts at Bank of America Merrill Lynch recommending longs in this pair last Monday. Their reasoning was based on current account numbers and seasonals. I also wrote about the pair on Friday, saying it was in a delicate spot but that the weekly doji star signals a potential rebound.
Looking through the archives, BAML has been on a hot streak, they were also talking about USD/JPY longs at 97.00 last week.
The NZD/CHF chart shows it might be time for a break. A next leg of strength on a break of resistance near 0.7575. In any case, I’m not sure NZD/CHF is a viable trade for most retail traders (your broker will love you though). Still, it’s a chart that offers some insight into the directions of the kiwi and swissy.
