FxWirePro: AUD/CHF finds strong support at 0.7325, good to go short on break below

• AUD/CHF down 0.78% on the day as escalating trade tensions between US and China dent antipodeans. 
   
• The pair is trading in a Symmetric Triangle' pattern and is currently testing triangle base support at 0.7325.
   
• Break below will see further downside, scope then for test of 0.7242 (2018 lows).
   
• Momentum indicators support bears, MACD and ADX also in support on further weakness.
   
• Price has broken below 100-DMA and daily cloud. Breach at triangle base to see further drag.
   
• Bearish invalidation likely on retrace above daily cloud. 

Support levels - 0.7325 (Triangle base), 0.73, 0.7263 (Mar 28 low), 0.7242 (2018 lows till date)

Resistance levels - 0.74, 0.7410 (5-DMA), 0.7422 (100-DMA)

Recommendation: Watch out for break below 0.7325 (major trendline support) to go short, target 0.7265/ 0.7245/ 0.72

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -140.938 (Bearish), while Hourly CHF Spot Index was at 52.4971 (Neutral) at 1115 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.