FxWirePro: Antipodeans buoyed by stellar Chinese trade data, AUD/CHF spikes to highest since April 2015

• Data released earlier today showed China saw a sharp rise in the exports and imports in CNY terms in January.
• China's trade surplus, exports as well imports came in much stronger-than-expected. Stellar numbers are boosting risk assets.
• Upbeat China data along with Trump’s tax talk likely to dampen demand for safe haven currencies like CHF and JPY.
• AUD/CHF spiked to hit 0.7666, levels last seen in April 2015. Bias higher.
• The pair has retraced from highs to currently trade at 0.7654. We recommend buying on dips. 

Support levels - 0.7618 (5-DMA), 0.7579 (Feb 9 low), 0.7574 (20-DMA)

Resistance levels - 0.7665 (Oct 26, 2016 high), 0.7673 (Apr 27 week high), 0.7743 (Mar 9 week high) 

TIME  TREND INDEX  OB/OS INDEX    

1H          Bullish                Neutral       
4H          Bullish                Neutral       
1D          Bullish                Neutral        
1W         Bullish                Neutral      

Recommendation: Good to go long on dips around 0.7640/50, SL: 0.7575, TP: 0.77/ 0.7740

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 18.3541(Neutral), while Hourly CHF Spot Index was at 16.3055 (Neutral) at 0550 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.