- AUD/CHF is trading 0.10% higher on the day at 0.7559 at the time of writing.
- The pair has shown a decisive breakout above 200-DMA, we see scope for further upside.
- Technical indicators are biased higher. Momentum studies are bullish.
- We have also seen breakout at major trendline resistance at 0.7535, next major bull target lies at 78.6% Fib at 0.76250.
- On the flipside, 200-DMA is strong support at 0.7535, retrace below negates bullish bias.
Support levels - 0.7535 (200-DMA), 0.7520 (5-DMA), 0.75
Resistance levels - 0.7595 (Jan 30 high), 0.7625 (78.6% Fib), 0.7673 (88.6% Fib)
Recommendation: Good to go long on dips around 0.7550, SL: 0.75, TP: 0.76/ 0.7625/ 0.7675
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 162.873 (Bullish), while Hourly CHF Spot Index was at -18.5203 (Neutral) at 0945 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
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