FxWirePro: AUD/CHF retraces dip below 200-DMA, weakness only on decisive break below

• AUD/CHF finds strong support at 200-DMA at 0.7495, we see weakness on break below.
• The pair has retraced dip below 200-DMA on Friday's trade and is currently trading around 0.7511 levels.
• Upside finds immediate resistance at 0.7520 (4H 20-SMA). Break above could see further upside.
• Technical indicators are not conclusive for now. Decisive break above 5-DMA could confirm further upside.
• On the flipside, drag till 20-DMA at 0.7409 likely on break below 200-DMA.

Support levels - 0.7495 (200-DMA), 0.7439 (100-DMA) 0.7425 (20-DMA)

Resistance levels - 0.7520 (4H 20-SMA), 0.7530 (5-DMA), 0.76, 0.7626 (July 20 high)

Recommendation: We prefer to wait for clear directional bias.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -159.394 (Bearish), while Hourly CHF Spot Index was at 60.6549 (Neutral) at 0900 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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