FxWirePro: CAD/CHF Trade Idea

FxWirePro Currency Strength Index for CAD/CHF: Bias Bullish

FxWirePro's Hourly CAD Spot Index was at 149.374 (Bullish)

FxWirePro's Hourly CHF Spot Index was at -21.9456 (Neutral)

Technical Analysis: Bias Bullish

- Price has broken above 100-DMA, eyes 200-DMA

- Momentum studies highly bullish

- RSI shows strength at 67 levels with room to run further

- +ve DMI dominance, ADX above 25 and rising in support of trend

- On weekly charts, MACD is on verge of bullish crossover and Stochs have rolled over from oversold levels

Support levels - 0.7560 (100-DMA), 0.7487 (38.2% Fib), 0.7461 (55-EMA)

Resistance levels - 0.7642 (200-DMA), 0.7650 (61.8% Fib), 0.7726 (Aug 22 high)

Recommendation: Good to go long on dips around 0.7575/85, SL: 0.7530, TP: 0.76/ 0.7640/ 0.77

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