FxWirePro: AUD/CHF struggles to extend bounce off 200H MA, finds stiff resistance at 55-EMA

AUD/CHF chart - Trading View 

AUD/CHF was trading 0.13% higher on the day at 0.6148 at around 10:15 GMT after closing 0.75% higher in the previous session.

The pair has gained 16% from 2020 lows at 0.5341 and is showing signs of exhaustion at 55-EMA resistance.

Technical studies show oscillators are at overbought levels with scope for bearish rollover.

GMMA shows major and minor trend are neutral. RSI still holds a bullish momentum.

The pair bounced off strong support at 200H MA, weakness only on break below. 

Price action hovers around 55-EMA resistance at 0.6157 , decisive break above 55-EMA required for upside continuation.

Break below 200H MA will confirm weakness. Next immediate support lies at 21-EMA at 0.6041 ahead of 38.2% Fib at 0.5932.