- AUD/CHF is trading in a 'Rising Triangle' pattern, is up 0.32% on he day, at 0.7740.
- The pair has taken support at 20-DMA and edged higher, scope for test of Triangle top at 0.78 levels.
- Technical studies support upside in the pair, 5-DMA is sharply higher and 20-DMA has also turned.
- We see weakness in the pair only on break below 20-DMA at 0.7669, scope then for test of triangle base at 0.7625.
- On the upside only violation at Triangle top could see further upside.
Support levels - 0.7729 (5-DMA), 0.7669 (20-DMA), 0.7643 (23.6% Fib retrace of 0.7146 to 0.7796 rally)
Resistance levels - 0.7755 (Sept 14 high), 0.7777 (Aug 1 high), 0.78 (Triangle top)
Recommendation: Good to go long on dips around 0.7730/35, SL: 0.7690, TP: 0.7755/ 0.7780/ 0.78
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