AUD/CHF chart - Trading View
AUD/CHF Technical Analysis: Bias bullish
- Breaks above 200-DMA and daily cloud
- RSI and Stochs show momentum with the bulls
- Price action above major EMAs and Bollinger bands widening
- Scope for test of 61.8% Fib at 0.7237
Fundamental Factors:
- Aussie buoyed across the board after speech from RBA’s Debelle and positive data.
- Australian Westpac consumer confidence index that surged to +1.9% versus -4.8% previous contraction.
- RBA Dep Gov Guy Debelle praised economic growth and noted that the domestic labor market has been surprisingly strong.
Support levels - 0.7145 (200-DMA), 0.7123 (5-DMA), 0.7078 (Apr 8 low)
Resistance levels - 0.72, 0.7237 (61.8% Fib), 0.7262 (Feb 5 high)
Recommendation: Stay long on dips, SL: 0.7110, TP: 0.72/ 0.7235
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
