- AUD/CHF struggles to hold gains above 0.75 handle, retraces from highs of 0.7514 to close at 0.7470 on Friday's trade.
- The pair finds strong support at 100-DMA at 0.7466, we see weakness only on break below.
- The pair is trading 0.17% higher on the day, hovers around 50% Fib. Technical support gains.
- RSI shows strong upside momentum at 62 levels and Stochs are biased higher.
- Next bull target aligns at 200-DMA at 0.7542. Break out at 200-DMA could propel the pair higher.
- We see weakness only on close below 21-EMA at 0.7394.
Support levels - 0.7485 (50% Fib), 0.7466 (100-DMA), 0.7452 (5-DMA)
Resistance levels - 0.7542 (200-DMA), 0.76, 0.7680 (major trendline)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-CHF-spikes-past-100-DMA-eyes-200-DMA-at-07541-stay-long-on-dips-1253249) is progressing well.
Recommendation: Hold for upside.
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -88.4493 (Bearish), while Hourly CHF Spot Index was at -63.5361 (Neutral) at 0700 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
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