FxWirePro: BCH/USD extends cloud breakout, holds above 1500 mark, bias higher

• BCH/USD extends breakout above daily cloud, breaks above 110-EMA.
   
• The pair now trades above 1500 mark, close above 110-EMA raises scope for further upside.
   
• BCH/USD extending upside from multi-week lows of 603.30, hits highest since Feb 18th.
   
• Technical studies support upside, momentum with the bulls. MACD supports trend higher.
   
• Next major resistance above 23.6% Fib lies at 1644 (Feb 18 high). Immediate support lies at 1396 (110-EMA).

Support levels - 1473 (23.6% Fib), 1395 (110-EMA), 1290 (5-DMA), 1168 (cloud top)

Resistance levels - 1644 (Feb 18 high), 1700, 1720 (Jan 28 high)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-BCH-USD-takes-out-1400-mark-cloud-breakout-raises-scope-for-further-upside-stay-long-on-dips-1267708) has hit TP1/2.

Recommendation: Book partial profits at highs. Trail SL to 1290, hold for further upside. Target 1640/ 1700/ 1720.

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