FxWirePro: CAD/CHF breaks above 200-DMA, on track to test 61.8% Fib at 0.7686

• CAD/CHF has closed above major resistance at 200-DMA signalling upside continuation.
   
• Technical indicators for the pair are bullish. RSI and Stochs are sharply higher, signalling strong momentum higher.
   
• Price action has edged above major EMAs after bullish divergence on Stochs and RSI nicely converging with price action. 
   
• The pair is currently trading muted, hovers around cloud top at 0.7631 as investors await Switzerland consumer confidence data.
   
• Breakout at cloud top could see further bullishness. Scope then for test of 61.8% Fib at 0.7686. 
   
• Retrace below 200-DMA could weakness till 21-EMA at 0.7584. Violation there could see further weakness. 

Support levels - 0.7610 (200-DMA), 0.7584 (21-EMA), 0.7506 (23.6% Fib)

Resistance levels - 0.7686 (61.8% Fib), 0.7715 (Apr 17 high), 0.7766 (78.6% Fib)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-CAD-CHF-finds-stiff-resistance-at-200-DMA-07615-good-to-go-long-on-break-above-1408337) has hit TP1.

Recommendation: Book partial profits at highs. Trail SL to 0.7580, hold for further upside.

FxWirePro Currency Strength Index: FxWirePro's Hourly CAD Spot Index was at 102.617 (Bullish), while Hourly CHF Spot Index was at 77.8924 (Neutral) at 0345 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.