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FxWirePro: AUD/CHF Trade Idea

FxWirePro's Hourly AUD Spot Index: -168.953

FxWirePro's Hourly CHF Spot Index: 60.6805

Strength Index Trend: Bearish

Technical Studies: Bias Bearish

- RSI below 50, biased lower

- Stochs Sharply lower, but at oversold - so caution advised

- MACD shows bearish crossover

- Price action dips into daily cloud

Support levels - 0.7574 (Aug 18 low), 0.7548 (38.2% Fib retrace of 0.7146 to 0.7796 rally), 0.7527 (200-DMA)

Resistance levels - 0.7633 (5-DMA), 0.7649 (50-DMA), 0.7665 (20-DMA)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-CHF-holds-20-DMA-support-on-track-to-test-triangle-top-at-078-stay-long-916190) has hit TP1.

Recommendation: Go short AUD/CHF, SL: 0.7675, TP: 0.7575/ 0.7550/ 0.7530

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

 

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