FxWirePro: AUD/CHF Trade Idea

FxWirePro's Hourly Currency Strength Index for AUD/CHF at 1000 GMT: Bias Bullish

FxWirePro's Hourly Spot Index for AUD: 78.4628 (Neutral)

FxWirePro's Hourly Spot Index for CHF: -97.008 (Bearish)

Technical Studies: Bias Bullish

- 200-DMA breakout

- Tests 50-DMA resistance at 0.7574

- RSI and Stochs biased higher, RSI above 50 gaining traction

- Bullish 5 and 20 DMA crossover

- Bollinger bands widening

Support levels - 0.7562 (38.2% Fib retrace of 0.77966 to 0.7417 fall), 0.7527 (200-DMA), 0.7506 (23.6% Fib)

Resistance levels - 0.7574 (50-DMA), 0.7606 (50% Fib), 0.7650 (trendline)

Recommendation: Good to go long on breakout at 50-DMA, SL: 0.7530, TP: 0.76/ 0.7650

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