AUD/CHF chart - Trading View
- AUD/CHF trades 0.13% lower on the day at 0.7072 at 0500 GMT.
- Major trend in the pair is bearish. Recovery attempts capped below 110-W EMA.
- Price action has dipped into daily cloud and there is scope for further weakness.
- Technical indicators on the daily charts are bearishly aligned. RSI has dipped below 50 and is biased lower.
- The pair is holding support at strong horizontal trendline at 0.7050. Break below will confirm further weakness.
- On the upside, immediate resistance is seen at 5-DMA at 0.7090. Break above 100-DMA could see short-term bullishness.
Support levels - 0.7050 (trendline), 0.7027 (cloud base), 0.6969 (Oct 11 low)
Resistance levels - 0.7090 (5-DMA), 0.7109 (21-EMA), 0.7141 (100-DMA)
Recommendation: Watch out for break below 0.7050 to go short.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
