FxWirePro: AUD/CHF Trade Idea

AUD/CHF chart on Trading View used for analysis

FxWirePro Currency Strength Index for AUD/CHF: Bias Bearish
FxWirePro's Hourly AUD Spot Index was at -177.242 (Bearish)
FxWirePro's Hourly CHF Spot Index was at 99.0079 (Bullish)

Technical Analysis: Bias Bearish
- Extends weakness for 5th straight session, breaks below major trendline support at 0.7175
- Has retraced break above 200-DMA, Stocks and RSI are biased lower
- Price has dipped below 110-EMA and 55-EMA caps upside
- Bollinger Bands are widening in support of rising volatility

Support levels - 0.7126 (50% Fib), 0.71, 0.7067 (61.8% Fib)
Resistance levels - 0.7185 (38.2% Fib), 0.72, 0.7252 (5-DMA)

Recommendation: Good to go short on upticks, SL: 0.72, TP: 0.7125/ 0.71/ 0.7070

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.