- AUD/CHF edges lower from session highs at 0.7541, trades 0.76% higher on the day.
- The pair has broken above majot resistance at 200-DMA at 0.7524 and close above could see extension of upside.
- Aussie boosted by upbeat Australia retails sales data which arrived at +0.4% m/m, beating expectations at +0.3%.
- Further, Australia ANZ Job Advertisements increased to 1.5% in May from previous -0.2%.
- Close above 200-DMA will find next major resistance at 0.7575 (Trendline). Break above could see further upisde.
- On the flipside, the pair finds immediate support at 110-EMA at 0.7473. Break below daily cloud to see major weakness.
Support levels - 0.75, 0.7478 (5-DMA), 0.7473 (110-EMA)
Resistance levels - 0.7541 (session high), 0.7575 (Trendline), 0.76
Recommendation: Good to go long on break above 200-DMA, SL: 0.7470, TP: 0.7550/ 0.7575/ 0.76
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