FxWirePro: AUD/CHF breaks above 50-DMA, hovers around 0.74 handle, bias higher

• AUD/CHF has breached 50-DMA resistance at 0.7379 on Thursday's trade, bias higher.
   
• The pair is consolidating gains around 0.74 handle, we see scope for test of 200-DMA at 0.7496.
   
• Momentum studies are heavily bullish, RSI strong at 62 and biased higher. MACD indicators also supports trend higher. 
   
• On weekly charts we see stochs are on the verge of a rollover from oversold levels, which if successful will see further extension on upside.
   
• Upbeat Australia's jobs data and SNB's neutral bias with unchanged policy adds support to the pair.

Support levels - 0.7376 (50-DMA), 0.7352 (5-DMA), 0.7302 (23.6% Fib of 0.7807 to 0.7147 fall)

Resistance levels - 0.7423 (cloud base), 0.7440 (trendline), 0.7467 (weekly 50-DMA), 0.7496 (200-DMA)

TIME  TREND INDEX     OB/OS INDEX    

1H          Bullish                  Near overbought       
4H          Neutral                 Overbought       
1D          Bullish                  Neutral        
1W         Neutral                 Neutral      

Recommendation: Good to go long around 0.7390/0.74 levels, SL: 0.7350, TP: 0.7440/ 0.7495.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 131.367 (Bullish), while Hourly CHF Spot Index was at -149.325 (Bearish) at 0245 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.