AUD/CHF chart on Trading View used for analysis
- AUD/CHF is trading 0.42% higher on the day at 0.7103 at 1100 GMT.
- The pair is extending gains after break above 100-DMA, bias bullish.
- Stochs and RSI are biased higher. RSI shows strength above 50 level.
- MACD shows bullish crossover and 'bullish divergence' on Stochs adds to the bullish bias.
- Price action has tested 61.8% Fib at 0.7109 and is on track to test 50-DMA at 0.7154.
- Retrace and close below 100-DMA could see dip till 5-DMA at 0.7034.
Support levels - 0.7093 (100-DMA), 0.7034 (5-DMA), 0.70
Resistance levels - 0.7154 (50-DMA), 0.72, 0.7227 (78.6% Fib)
Recommendation: Good to go long on close above 100-DMA, SL: 0.7030, TP: 0.7150/ 0.72/ 0.7230
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.