- AUD/CHF retraced brief dip below 200-DMA at 0.7484 on Monday's trade.
- However, recovery attempts on the day were rejected at session highs at 0.7529.
- The pair has slipped lower to currently trade unchanged at 0.7503 level.
- Momentum studies are bearish, break below 200-DMA will see test of channel base at 0.7375 levels.
- On weekly charts the pair has slipped below 20-SMA and RSI and Stochs are biased lower.
Support levels - 0.7486 (200-DMA), 0.7420 (50% Fib retrace of 0.7032 to 0.7807 rally), 0.7375 (trendline)
Resistance levels - 0.7516 (cloud base), 0.7548 (5-DMA), 0.76, 0.7624 (23.6% Fib)
TIME TREND INDEX OB/OS INDEX
1H Bearish Neutral
4H Bearish Neutral
1D Bearish Neutral
1W Bearish Neutral
Recommendation: Good to go short on rallies around 0.7510, SL: 0.7555, TP: 0.7420/ 0.7375
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -141.559(Bearish), while Hourly CHF Spot Index was at 127.946 (Bullish) at 0500 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
