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FxWirePro: AUD/CHF edges lower from session highs, 50-DMA caps upside

AUD/CHF chart - Trading View 

Technical Analysis: Bias Bearish

- AUD/CHF slips lower from session highs at 0.6717 and was trading 0.13% higher at 0.6685 at around 11:45 GMT

- Upside in the pair was rejected at stiff resistance at 50-DMA at 0.6715

- The pair has resumed downside after recovery attempts were rejected at 200-DMA

- Price action is grinding lower along daily cloud resistance, major moving averages are trending lower

- MACD confirms bearish crossover on signal line and ADX supports weakness

- GMMA indicator shows major and minor trend are bearish

Support levels - 0.6650 (20-month MA), 0.6639 (Lower BB), 0.6581 (76.4% Fib)

Resistance levels - 0.6721 (5-DMA), 0.6746 (200H MA), 0.6753 (55-EMA)

Summary: AUD/CHF has erased upbeat sentiment led gains. Major trend in the pair remains bearish. Downside resumption will see dip till 0.6581 (76.4% Fib). Bearish invalidation only above daily cloud. 

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