AUD/CHF chart - Trading View
- AUD/CHF recovery capped at 200-DMA, bias lower
- The pair has broken below major trendline support at 0.7165
- Stochs and RSI are sharply lower and MACD supports weakness, volatility is expanding
- Shorter-term MAs have fallen below longer-term MAs on the GMMA indicator
- Price action is currently holding support at cloud base support, break below will see weakness
- Next major support lies at 38.2% Fib at 0.7045 and the lower BB at 0.6966
- 200-DMA is major resistance at 0.7124. Break above 55W EMA negates bearish bias
Support levels - 0.7045 (38.2% Fib), 0.70, 0.6966 (Lower BB)
Resistance levels - 0.7124 (200-DMA), 0.7196 (55-W EMA), 0.72
Recommendation: Stay short on break below cloud base, SL: 0.7125/ TP: 0.7045/ 0.70/ 0.6970
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
