FxWirePro: AUD/CHF edges higher from session lows, break above 21-EMA to see further upside

Refer AUD/CHF chart on Trading View

• AUD/CHF edges higher from session lows at 0.7556, intraday bias slightly bullish.
   
• Price action has broken above 1H 200 SMA and hourly cloud.
   
• 5-DMA has turned north and Stochs have rolled over from oversold levels.
   
• MACD is also on verge of crossover on signal line, which if completed could add to the upside bias.
   
• Major trend is bearish, but we see scope for minor pullback till 21-EMA at 0.7301.
   
• Break above 21-EMA eyes 50-DMA at 0.7345. Break above 200-DMA will invalidate the bearish bias.

Support levels - 0.7235 (5-DMA), 0.72, 0.7169 (Aug 18 low)

Resistance levels - 0.7301 (21-EMA), 0.7306 (5W SMA), 0.7345 (50-DMA)

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 46.7079 (Neutral), while Hourly CHF Spot Index was at -100.385 (Bearish) at 1130 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.