FxWirePro: AUD/CHF struggles at 50-DMA, bullish divergence keeps scope for upside

• AUD/CHF rejected at 50-DMA for 2nd straight session, struggles to break above.
   
• Technical studies are bullish. Stochs and RSI are biased higher. MACD also supports trend higher. 
   
• Further a bullish Stochastics divergence from price action keeps scope for upside.
   
• The pair has closed above 55-EMA in last week's trade, extends break above 21-EMA.
   
• Price has broken above 0.74 handle and is currently trading at 0.7454 after hitting highs of 0.7474.
   
• Break above 50-DMA finds next immediate resistance at 110-EMA at 0.7496 ahead of 200-DMA at 0.7537.
   
• On the flipside, 55-EMA at 0.7446 is strong support. Break below could see minor weakness.

Support levels - 0.7446 (55-EMA), 0.7432 (5-DMA), 0.7357 (20-DMA)

Resistance levels - 0.7496 (110-EMA), 0.75, 0.7537 (200-DMA)

Recommendation: Watch out for break above 50-DMA for further upside. 

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 123.794 (Bullish), while Hourly CHF Spot Index was at 5.05747 (Neutral) at 0900 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex. 

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