- AUD/CHF upside capped at 20-DMA, Doji formation seen on daily charts.
- The pair holds above 5-DMA support at 0.7413, intraday bias higher.
- Technical indicators have turned bullish, Stochs and RSI have turned north from oversold levels.
- We see bullish divergence on Stochs on daily charts which reinforces upside.
- 20-DMA at 0.7448 is strong resistance, break above required to extend gains.
Support levels - 0.7412 (5-DMA), 0.7396 (23.6% Fib of 0.7806 to 0.7270 fall), 0.73, 0.7270 (trendline)
Resistance levels - 0.7448 (20-DMA), 0.7475 (38.2% Fib), 0.7513 (200-DMA)
Recommendation: Good to go long on breakout above 0.7450, SL: 0.74, TP: 0.7475/ 0.75/ 0.7540
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 64.303 (Neutral), while Hourly CHF Spot Index was at -9.73943 (Neutral) at 0730 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
