Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/CHF holds 200-DMA support at 0.7375, bias lower, stay short

  • AUD/CHF extends downside after breaking below major trendline support at 0.7460 and 100-DMA at 0.7464.
     
  • Price holds 200-DMA support at 0.7375. Break below finds next support at 0.7342 (Sept 30 low).
     
  • Bearish bias in the pair intact. Momentum studies support downside.
     
  • Support levels - 0.7375 (200-DMA), 0.7342 (Sept 30 low), 0.7277 (Aug 19 low)
     
  • Resistance levels - 0.7421 (5-DMA), 0.7463 (100-DMA), 0.75 (Dec 19 high)
     
  • Our previous call (http://www.econotimes.com/FxWirePro-AUD-CHF-slips-below-100-DMA-good-to-go-short-on-rallies-463080) has achieved TP 1&2.
     

Recommendation: Stay short for 0.7345/ 0.7280/ 0.7250

FxWirePro's Hourly AUD Spot Index was at -134.55 (Highly Bearish), while Hourly CHF Spot Index was at 109.056 (Highly bullish) at 0545 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.