FxWirePro: AUD/CHF hovers around 200-DMA support, bias lower, stay short

• 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.