FxWirePro: AUD/CHF retraces dip below 5-DMA, good to go long on break above 50-DMA at 0.7472

• AUD/CHF has resumed upside after edging lower for past 2 sessions.
   
• The Aussie buoyed by upbeat Chinese industrial output and fixed asset investment data.
   
• The pair has retraced dip below 5-DMA and is currently trading 0.54% higher on the day at 0.7459 levels.
   
• Technical studies are bullish. Stochs and RSI are biased higher. MACD also supports upside.
   
• Bullish Stochastics divergence from price action adds to upside bias.
   
• 50-DMA at 0.7472 is major resistance on the upside. We see further gains only on break above.
   
• On the flipside, 20-DMA at 0.7360 is strong support. Break below invalidates bullish bias.

Support levels - 0.7446 (55-EMA), 0.7442 (5-DMA), 0.7360 (20-DMA)

Resistance levels - 0.7472 (50-DMA), 0.7494 (110-EMA), 0.75, 0.7538 (200-DMA)

Recommendation: Watch out for break above 50-DMA for further upside. Target 0.7495/ 0.7535.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 98.7686 (Bullish), while Hourly CHF Spot Index was at -5.12068 (Neutral) at 1040 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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