FxWirePro: AUD/CHF capped at 200-DMA, break above to see further gains

AUD/CHF chart on Trading View used for analysis

• AUD/CHF is trading 0.20% higher at 0.7218 at 0945 GMT, bias is bullish.
   
• Aussie buoyed by upbeat Chinese PMI data released earlier today along with an above-forecast Aussie export price index.
   
• The pair has paused upside at 200-DMA which is offering strong resistance at 0.7230.
   
• Technical studies are bullish and break above 200-DMA will see further upside.
   
• Stochs and RSI sharply higher. Bullish divergence on RSI and Stochs also supports the upside bias.
   
• Next major resistance above 200-DMA lies at 55-W EMA at 0.7246 ahead of 0.7342 (Nov 16 high).
   
• Immediate support is seen at 5-DMA at 0.7155. Break below 20-DMA negates bullish bias.

Support levels - 0.7155 (5-DMA), 0.7142 (110-EMA), 0.7095 (20-DMA)

Resistance levels - 0.7229 (200-DMA), 0.7342 (Nov 16 high), 0.7376 (Dec 3 high)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-CHF-breaks-above-110-EMA-good-to-go-long-on-dips-1491353) has hit TP1.

Recommendation: Book partial profits at highs. Watch out for break above 200-DMA for further gains.

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