FxWirePro: AUD/CHF holds strong trendline support at 0.7325, break below to see further weakness

• AUD/CHF has edged higher after holding strong trendline support at 0.7325.
   
• The pair is currently trading 0.41% higher on the day, at 0.7368 at the time of writing.
   
• Price action rages in a Symmetric Triangle' pattern and break below triangle base support at 0.7325 required for further downside.
   
• Price has broken below 100-DMA and daily cloud. Breach at triangle base to see further drag. Break below 0.7325 raises scope then for test of 0.7242 (2018 lows).
   
• Momentum indicators support bears, MACD and ADX also in support on further weakness.
   
• 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, 0.7393 (5-DMA), 0.7420 (100-DMA)

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