FxWirePro: AUD/CHF pauses downside above 200-DMA, eyes trendline resistance at 0.7270

AUD/CHF chart - Trading View 

• AUD/CHF pauses downside above 200-DMA with a Doji formation at lows.
   
• The pair is extending gains for the 3rd straight session and has broken above 20-DMA.
   
• Antipodeans buoyed as China’s industrial profits surged after the previous two months of deterioration.
   
• China's industrial profits in March rise 13.9 pct year-on-year to 589.52 billion yuan ($87.62 billion), data from the National Bureau of Statistics showed. 
   
• Profits recovered from a 14 percent fall in the first two months, easing concerns about the slowing momentum in China’s economy.
   
• Technical studies support further upside in the pair. Scope for test of 0.7270 (trendline resistance).
   
• Immediate support lies at 21-EMA at 0.7174. We see major weakness only below 200-DMA.

Support levels - 0.7174 (21-EMA), 0.7134 (200-DMA), 0.7078 (Apr 8 low)

Resistance levels - 0.72, 0.7216 (1H 200-SMA), 0.7270 (trendline)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.