FxWirePro: AUD/CHF Trade Idea

AUD/CHF chart - Trading View
 
AUD/CHF Technical Analysis: Bias Slightly bullish
- Breaks above 20-DMA
- Holds above 5-DMA, 5-DMA has turned
- Stochs and RSI are biased higher
- Consolidates break above 2H 200 SMA

Fundamental Factors:
- Antipodeans buoyed on positive Chinese data and signs of progress in Sino-U.S. trade talks.
- Rsisng risk-on keeps safe haven demand for franc in check.

Support levels - 0.7085 (20-DMA), 0.7067 (5-DMA), 0.7023 (38.2% Fib)
Resistance levels - 0.7124 (110-EMA), 0.7152 (200-DMA), 0.7174 (Jan 17 high)

Recommendation: Good to go long on break above 55-EMA at 0.7102, SL: 0.7065, TP: 0.7125/ 0.7150/ 0.7170

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