- AUD/CHF extends run higher for the 5th consecutive session, up 0.57 percent on the day.
- The pair has hit fresh -4-month highs at 0.7750, and has since pared some gains to currently trade at 0.7725.
- Technical indicators on weekly charts are highly bullish. RSI and Stochs are biased higher. MACD is showing a bullish crossover on signal line.
- The pair is currently hovering around 88.6% Fib retrace of 0.7806 to 0.7146 fall at 0.7731.
- We have seen a break above weekly 200-SMA at 0.7627, bias still higher. 0.78 is the next bull target.
- On the flipside, we see weakness on break below trendline resistance turned support at 0.7630.
Support levels - 0.7665 (78.6% Fibo 0.7806 to 0.7146 fall), 0.7630 (trendline resistance turned support), 0.7627 (weekly 200-SMA), 0.7614 (5-DMA)
Resistance levels - 0.7807 (Feb 2017 high), 0.80
Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-CHF-reverses-Australia-CPI-led-losses-retakes-5-DMA-bias-higher-821393) has hit all targets.
Recommendation: Good to go long on dips around 0.7675/ 0.77, SL: 0.76, TP: 0.7730/ 0.78/ 0.7830. 0.80
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -0.7585 (Neutral), while Hourly CHF Spot Index was at -157.121 (Bearish) at 0940 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
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