FxWirePro: 50-DMA caps upside in AUD/CHF, break above could see further gains

• AUD/CHF extends gains above 5-DMA, up 0.21% on the day.
   
• Upside remains capped below 50-DMA at 0.7653, breakout above could see further bullishness.
   
• 0.7615 (nearly converged 5-DMA and cloud top) is strong support on the downside, we see weakness only on break below.
   
• Technical indicators are turning slightly bullish, RSI is biased higher and Stochs are on verge of rollover from oversold levels.
   
• Breach at 50-DMA (0.7653) resistance could the pair higher to test 0.7795 (Triangle top).
   
• On the flipside, break below 0.7615 finds next strong support at 0.7575 (trendline).

Support levels - 0.7613 (5-DMA), 0.7575 (rising trendline), 0.7531 (200-DMA)

Resistance levels - 0.7653 (50-DMA), 0.7664 (20-DMA), 0.7694 (Sept 1 high)

Recommendation: Watch out for break above 50-DMA to go long, target 0.7665/ 0.7695/ 0.7735

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 79.4416 (Neutral), while Hourly CHF Spot Index was at 0.194169 (Neutral) at 0930 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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