- AUD/CHF fails to hold gains above 20-DMA, edges lower from session highs at 0.7717 to currently trade around 0.7696.
- Technicals support upside in the pair, we see scope for further gains.
- The pair is trading a rising channel, finds strong support at 0.7645 (channel base).
- RSI is biased higher and Stochs are on verge of bullish crossover from oversold levels.
- Break above 20-DMA could see upside upto 0.7763 levels.
- On the flipside, break below channel base at 0.7645 could drag the pair to 0.7580.
Support levels - 0.7683 (5-DMA), 0.7645 (channel base), 0.7587 (50-DMA)
Resistance levels - 0.7699 (20-DMA), 0.7750 (weekly 200-SMA), 0.7807 (Feb 22 high)
TIME TREND INDEX OB/OS INDEX
1H Bearish Neutral
4H Bullish Neutral
1D Neutral Neutral
1W Bullish Neutral
Recommendation: Good to go long on break above 0.77, SL: 0.7650, TP: 0.7760/ 0.78
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -78.2957(Bearish), while Hourly CHF Spot Index was at -56.9307 (Neutral) at 1000 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
