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FxWirePro: AUD/CHF capped at 55-EMA, good to go long on break above

AUD/CHF chart - Trading View 

AUD/CHF pauses upside at stiff resistance at 55-EMA (0.6938).

The pair is extending bounce off 20-DMA support and intraday bias is turning slightly bullish.

5-DMA is showing a turn and break above 55-EMA could take the pair higher.

RSI is above 50, momentum still with the bulls. Price action has bounced off 20-DMA with a Doji formation.

Price action pivotal at 55-EMA. Breakout could see upside continuation. Scope for gains till 110-EMA at 0.70.

Rejection at 55-EMA can see retrace till 20-DMA at 0.6868. Break below 20-DMA negates near-term bullishness.

Support levels - 0.6909 (5-DMA), 0.6868 (20-DMA)M 0.68

Resistance levels - 0.6938 (55-EMA), 0.70 (110-EMA), 0.7073 (61.8% Fib)

Recommendation: Watch out for break above 55-EMA to go long, target 0.70/ 0.7070

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

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