- AUD/CHF is extending gains for the 6th straight session, bullish divergence keeps scope for further upside.
- The pair has closed above 55-EMA on Friday's trade, extends break above 21-EMA.
- Price has broken above 0.74 handle and is currently trading at 0.7474 after hitting highs of 0.7480.
- Technical studies are bullish. Stochs and RSI are biased higher. 5-DMA shows bullish crossover on 20-DMA.
- Upside finds stiff resistance at 50-DMA at 0.7480, break above to see further upside.
- Next immediate resistance lies at 110-EMA at 0.7497 ahead of 200-DMA at 0.7536.
- On the flipside, 55-EMA at 0.7447 is strong support. Break below could see minor weakness.
Support levels - 0.7447 (55-EMA), 0.7418 (5-DMA), 0.7352 (20-DMA)
Resistance levels - 0.7497 (110-EMA), 0.75, 0.7536 (200-DMA)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-CHF-Trade-Idea-1191099) has almost hit all targets.
Recommendation: Watch out for break above 50-DMA for further gains.
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