FxWirePro: AUD/CHF Trade Idea

FxWirePro Currency Strength Index for AUD/CHF: Bias Bearish

FxWirePro's Hourly AUD Spot Index was at -160.201 (Bearish)
FxWirePro's Hourly CHF Spot Index was at 102.405 (Bullish)

Technical Analysis: Bias Bearish

- Rejected at major resistance at 0.7540 (converged 200-DMA and major trendline
- Price has broken below 20-DMA at 0.7479
- RSI and Stochs are biased lower
- MACD is showing a bearish crossover on signal line

Support levels - 0.7428 (38.2% Fib), 0.7409 (50-DMA), 0.7357 (23.6% Fib)

Resistance levels -  0.7479 (20-DMA), 0.7498 (5-DMA), 0.75, 0.7536 (200-DMA)

Recommendation: Good to go short on rallies around 0.7450/60, SL: 0.75, TP: 0.7430/ 0.74/ 0.7360

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