FxWirePro: AUD/CHF struggles at channel top at 0.7375, good to go long on break above

• AUD/CHF is attempting break above major resistance at 0.7375 (channel top).
   
• Aussie buoyed on robust Westpac consumer sentiment index which rose to 0.4% m/m in July vs previous -1.8%.
   
• Technical indicators have turned bullish after break above 20 and 5 DMAs, RSI and Stochs are biased higher.
   
• Break above 0.7375 is likely to see upside upto 200-DMA at 0.7493.
   
• Bullish invalidation likely on break below 23.6% Fib retrace of 0.7806 to 0.7146 fall at 0.7302.
   
• It is an otherwise empty space for the Aussie this week in respect to domestic data releases but focus will be on China later in the week.
   

Support levels - 0.7350 (20-DMA), 0.7335 (5-DMA), 0.7302 (23.6% Fib retrace of 0.7806 to 0.7146 fall)

Resistance levels - 0.7399 (38.2% Fib), 0.7430 (June 19 high), 0.7455 (100-DMA), 0.7492 (200-DMA)

Recommendation: Good to go long on decisive breakout above 0.7375, SL: 0.7330, TP: 0.74/ 0.7430/ 0.75

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 138.619 (Bullish), while Hourly CHF Spot Index was at 9.36392 (Neutral) at 0615 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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