• FxWirePro: AUD/CHF capped at 50-dma, breakout will provide upside momentum

    Source: FxWire Pro - Technicals / 14 Jul 2019 11:25:53   America/New_York

    AUD/CHF chart - Trading View 

    AUD/CHF has bounced off 20-DMA support with a Dragonfly Doji formation.

    The pair has broken above 5-DMA and is currently trading at 0.6924 at 05:50 GMT.

    Momentum studies are bullish. RSI has risen above 50 mark and is biased higher.

    Volatility is rising on the intraday charts. Next major resistance lies at 55-EMA at 0.6940.

    Break below 20-DMA will see resumption of weakness. Retrace till 0.6760 (trendline support) likely. 

    Focus on China Trade Balance data awaited for further impetus. 

    Support levels - 0.69 (5-DMA), 0.6863 (20-DMA), 0.68, 0.6760 (trendline)

    Resistance levels - 0.6925 (50-DMA), 0.6969 (Upper BB), 0.70 (110-EMA) 

    For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
     

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