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 -9.52875 (Neutral)
FxWirePro's Hourly CHF Spot Index was at 123.943 (Bullish)

Technical Analysis: Bias Bearish
- Fails to hold break above 5-DMA
- Major moving averages sloping downward
- Momentum studies are bearish, RSI biased lower
- MACD below zero, bias lower, DMI supports weakness

Support levels - 0.7169 (Aug 16 low), 0.7138 (Aug 24 low), 0.7115 (channel base)
Resistance levels - 0.7191 (5-DMA), 0.7257 (21-EMA), 0.73

Recommendation: Good to go short on rallies, SL: 0.7255, target 0.7170/ 0.7140/ 0.7115

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