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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