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)
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