FxWirePro: AUD/CHF extends bullish gap open, hovers around major trendline resistance at 0.7635

• AUD/CHF has opened trade with a bullish gap up in the Asian session as markets open after holidays.
   
• The pair is hovering around major trendline resistance at 0.7635, breakout to see further upside.
   
• Technical studies support upside in the pair, price action has broken above daily cloud.
   
• RSI shows strength above 50 levels and is gaining traction. Momentum studies bullish.
   
• ADX and MACD also support upside in the pair.

Support levels - 0.7604 (100-DMA), 0.7596 (5-DMA), 0.7570 (50-DMA)

Resistance levels - 0.7651 (61.8% Fib retracement of 0.78 to 0.7417 fall), 0.77, 0.7715 (78.6% Fib)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-CHF-Trade-Idea-1058607) has almost hit all targets.

Recommendation: Stay long on close above 0.7635, SL: 0.76, TP: 0.77/ 0.7715

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 109.829 (Bullish), while Hourly CHF Spot Index was at -88.3171 (Bearish) at 0500 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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