Refer AUD/CHF chart on Trading View
- AUD/CHF edges lower from 3-week highs at 0.7401, bias higher.
- The pair has broken above 55-EMA and has entered into daily cloud.
- Technical indicators are turning bullish on the daily charts. Stochs are on verge of rollover from near oversold levels.
- RSI has edged above 50 levels and biased higher. +ve DMI has crossed over on -ve DMI.
- The pair holds support at 5-DMA at 0.7355. Close below could see some weakness.
- On the upside, we see scope for test of cloud top at 0.7429 ahead of 200-DMA at 0.7462.
Support levels - 0.7387 (55-EMA), 0.7357 (5-DMA), 0.7312 (Aug 2 low)
Resistance levels - 0.7429 (cloud top), 0.7462 (200-DMA)
Recommendation: Good to go long on dips around 0.7375, SL: 0.7350, TP: 0.74/ 0.7430/ 0.7460
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 121.425 (Bullish), while Hourly CHF Spot Index was at -53.2123 (Neutral) at 1125 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
