Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/CHF breaks 50-DMA, trades shy of 0.74 handle, Aussie buoyed on upbeat retail sales data

  • AUD/CHF breaks 20-DMA, spikes past 50-DMA at 0.7373 as Aussie buoyed on upbeat retail sales data.
     
  • Data released earlier today showed Aussie retail sales printed at 0.6%, beating expectations at 0.3% and compared to the previous figure of 0.2% in January.
     
  • AUD/CHF has shown a decisive break above stiff resistance at 4H 200-SMA and technical studies are bullish.
     
  • Stochs are biased higher and RSI has edged above 50 levels and is biased higher.
     
  • Further, bullish divergence on RSI and Stochs keeps scope for further upside in the pair.
     
  • On the downside, break below major support at 0.7260 will see further weakness. Scope then for test of 0.7148 levels.

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-CHF-struggles-at-4H-200-SMA-good-to-go-long-on-break-above-1232609) has hit TP1.

Recommendation: Bias higher. Stay long for 0.74/ 0.7425/ 0.7470

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

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.