- AUD/CHF has shown break above major trendline resistance at 0.7635, bias higher.
- The pair has edged above 61.8% Fib retracement of 0.78 to 0.7417 fall at 0.7651 to hit session highs at 0.7659.
- Technical studies support further upside in the pair, daily Ichimoku cloud now offers immediate support.
- RSI shows strength above 50 levels and is bias higher. Momentum indicators are also bullish.
- ADX and MACD also support upside in the pair. We see bullish invalidation below 50-DMA at 0.7570.
Call update: We has advised a long in our previous call (http://www.econotimes.com/FxWirePro-AUD-CHF-extends-bullish-gap-open-hovers-around-major-trendline-resistance-at-07635-1073333).
Recommendation: Stay long for targets.
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 137.834 (Bullish), while Hourly CHF Spot Index was at -79.3685 (Bearish) at 0330 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
