FxWirePro: AUD/CHF finds stiff resistance at 0.7157 (20-DMA), further upside only on break above

• AUD/CHF was rejected at session lows at 0.7389, holds above 5-DMA support at 0.7388.
   
• The pair is extending bounce off strong trendline support at 0.7270.
   
• Technical indicators have turned bullish after break above 5-DMA. Stochs and RSI have turned north from oversold levels.
   
• We see bullish divergence on Stochs on daily charts which reinforces upside.
   
• 20-DMA at 0.7457 is strong resistance, break above required to extend gains.

Support levels - 0.7396 (23.6% Fib of 0.7806 to 0.7270 fall), 0.7388 (5-DMA), 0.73, 0.7270 (trendline)

Resistance levels - 0.7457 (20-DMA), 0.7475 (38.2% Fib), 0.7512 (200-DMA)

Recommendation: Good to go long on breakout above 20-DMA at 0.7457, SL: 0.74, TP: 0.7475/ 0.75/ 0.7540

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -24.1443 (Neutral), while Hourly CHF Spot Index was at -101.042 (Bearish) at 0700 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.