FxWirePro: AUD/CHF finds stiff resistance at 55-W EMA at 0.72, further gains only on break above

AUD/CHF chart - Trading View 

• AUD/CHF edges lower from 6-week highs at 0.7191, trades 0.32% lower on th day at 0.7164 at 0830 GMT.
   
• Aussie dented on mixed Chinese CPI and PPI releases amid souring risk sentiment.
   
• Price action has broken above 200-DMA and daily cloud. Scope for further upside on bullish momentum.
   
• Upside finds stiff resistance at 55W EMA at 0.7201. Break above required for further upside.
   
• Next major bull target above 55W EMA lies at 61.8% Fib at 0.7237. Bullish invalidation likely on retrace below 200-DMA. 

Support levels -     0.7144 (200-DMA), 0.7139 (5-DMA), 0.7130 (50% Fib)

Resistance levels - 0.7201 (55-W EMA), 0.7237 (61.8% Fib), 0.7262 (Feb 5 high)

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