FxWirePro: AUD/CHF Trade Idea

Refer AUD/CHF chart on Trading View

FxWirePro Currency Strength Index for AUD/CHF: Bias Bearish
FxWirePro's Hourly AUD Spot Index was at -125.515 (Bearish)
FxWirePro's Hourly CHF Spot Index was at 75.74 (Neutral)

Technical Analysis: Bias Bearish
- Trades in slopping channel, price action below cloud and major moving averages
- RSI and Stochs are biased lower
- -ve DMI is dominant and ADX is rising in support
- MACD is well below zero and supports downside

Support levels - 0.7146 (May 2017 low), 0.7120 (channel base)
Resistance levels - 0.72, 0.7240 (5-DMA)

Recommendation: Good to stay short on upticks, SL: 0.7240, TP: 0.7145/ 0.7120

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