- AUD/CHF has broken below 200-DMA support at 0.7375.
- Momentum studies are bearish we see scope for further downside.
- Support levels - 0.7342 (Sept 30 low), 0.7277 (Aug 19 low), 0.7245 (trendline)
- Resistance levels - 0.7375 (200-DMA), 0.7405 (5-DMA), 0.7462 (100-DMA), 0.75 (Dec 19 high)
- Our previous call (http://www.econotimes.com/FxWirePro-AUD-CHF-slips-below-100-DMA-good-to-go-short-on-rallies-463080) has achieved all targets.
Recommendation: Book partial profits, lower trailing stops to 0.7410, stay short for 0.73/ 0.7280/ 0.7250
FxWirePro's Hourly AUD Spot Index was at-60.1635 (Bearish), while Hourly CHF Spot Index was at 30.4316 (Neutral) at 0415 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
