FxWirePro: AUD/CHF Trade Idea

FxWirePro Currency Strength Index for AUD/CHF: Bias Bearish
FxWirePro's Hourly AUD Spot Index was at -118.079 (Bearish)
FxWirePro's Hourly CHF Spot Index was at 96.8035 (Bullish)

Technical Analysis: Bias Bearish
- Price has broken below 100-DMA and daily cloud. 
- Breach at triangle base raises scope then for test of 0.7242 (2018 lows).
- Momentum indicators support bears, MACD and ADX also in support of further weakness.
- Stochs well in oversold levels and RSI shows weakness at 36 levels

Support levels - 0.73, 0.7263 (Mar 28 low), 0.7242 (2018 lows till date)
Resistance levels - 0.7327 (5-DMA), 0.74, 0.7410 (21-EMA)

Recommendation: Good to go long on upticks, target 0.7265/ 0.7245/ 0.72

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