AUD/CHF chart on Trading View used for analysis
- AUD/CHF is trading in a narrow range, at 0.7210 at 0645 GMT.
- The pair has been capped at 200-DMA and is struggling to break above from many sessions.
- Aussie subdued on dismal building permits data which printed at -8.4% m/m in Dec, missing forecasts at 1.8%.
- Stochs are at overbought levels and we could see some correction.
- On the weekly charts also, the pair finds major resistance at 55W EMA at 0.7244. Break above to see further gains.
- We see immediate support at 5-DMA at 0.7194. Break below 5-DMA will see dip till 21-EMA at 0.7128.
- Violation at 21-EMA support will see extention of weakness. Test of 0.6875 then likely.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
