- AUD/CHF hovers around 50-DMA at 0.7648, decisive break above could see upside.
- The pair is trading in 'Rising Triangle' pattern and finds strong support at 0.7610 (Triangle base).
- Breach at 'Triangle base' support will see drag till 0.7548 (38.2% Fib).
- Aussie remains weak after disappointing inflation data dented rate hike expectations.
- Price action is within daily cloud and Technical studies on daily charts do not provide clear directional bias.
Support levels - 0.7610 (Triangle base), 0.76, 0.7570 (100-DMA)
Resistance levels - 0.7662 (5-DMA), 0.77, 0.7721 (Oct 23 high), 0.7778 (Aug 1 high), 0.78 (Triangle top)
Recommendation: Prefer to wait for clear directional bias.
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -52.0525 (Neutral), while Hourly CHF Spot Index was at -71.9447 (Neutral) at 1040 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
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