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

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