- AUD/CHF is extending gains after holding strong trendline support at 0.7270.
- We see weakness only on break below, test of 0.7243 (Nov 9 lows then likely).
- Upside is capped by 5-DMA at 0.7364, close above could see further gains.
- We see bullish divergence on Stochs on daily charts and RSI has turned north from oversold levels.
- Stochs rollover from oversold levels with close above 5-DMA would confirm upside.
Support levels - 0.73, 0.7270 (trendline), 0.7243 (Nov 9 2016 low)
Resistance levels - 0.7365 (5-DMA), 0.7408 (1H 200-SMA), 0.7479 (20-DMA)
TIME TREND INDEX OB/OS INDEX
1H Bullish Neutral
4H Bullish Neutral
1D Neutral Neutral
1W Bearish Neutral
Recommendation: Watch out for close above 5-DMA for further upside.
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -129.836(Bearish), while Hourly CHF Spot Index was at -101.168 (Bearish) at 1200 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
