Danske Bank favors long NZD/CHF, from 0.77 with a tight stop at 0.7650, but a far-away take-profit level of 0.8140. The bank says the recent decline from the 2012 peak of 0.8025 stalled close to a confluence of supports--the June low, 50% Fibo level, 100/200DMAs--and strengthens the case for a recovery. NZD/CHF is now at 0.77, and the bank pegs resistance at 0.7845 and says above here will target 0.8025, 0.8140 and beyond, while any dips should hold above support at 0.7725 and 0.7655.
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