FxWirePro: AUD/CHF extends break above 21-EMA, bullish divergence keeps scope for further upside

• AUD/CHF is extending break above 21-EMA, edges higher for 5th straight session.
   
• The pair closed above 0.74 handle on Thursday's trade and has hit 4-week highs at 0.7423.
   
• Technical studies are bullish. Stochs and RSI are biased higher. 5-DMA on verge of bullish crossover on 20-DMA.
   
• Bullish divergence seen on Stochs on daily charts keeps scope for further upside.
   
• Price now eyes 55-EMA at 0.7444. Break above could see test of 110-EMA at 0.7496.
   
• On the flipside, 21-EMA at 0.7371 is strong support. Break below invalidates bullish bias.

Support levels - 0.7373 (5-DMA), 0.7371 (21-EMA), 0.7265 (trendline)

Resistance levels - 0.7444 (55-EMA), 0.7482 (50-DMA), 0.7496 (55-EMA)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-CHF-Trade-Idea-1191099) has hit TP1.

Recommendation: Bias higher, hold for further gains.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 48.8967 (Neutral), while Hourly CHF Spot Index was at -104.629 (Bearish) at 0640 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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