• FxWirePro: AUD/CHF capped at 55-ema, good to go long on break above

    Source: FxWire Pro - Technicals / 16 Jul 2019 04:59:44   America/New_York

    AUD/CHF chart - Trading View 

    AUD/CHF pauses upside at stiff resistance at 55-EMA (0.6938).

    The pair is extending bounce off 20-DMA support and intraday bias is turning slightly bullish.

    5-DMA is showing a turn and break above 55-EMA could take the pair higher.

    RSI is above 50, momentum still with the bulls. Price action has bounced off 20-DMA with a Doji formation.

    Price action pivotal at 55-EMA. Breakout could see upside continuation. Scope for gains till 110-EMA at 0.70.

    Rejection at 55-EMA can see retrace till 20-DMA at 0.6868. Break below 20-DMA negates near-term bullishness.

    Support levels - 0.6909 (5-DMA), 0.6868 (20-DMA)M 0.68

    Resistance levels - 0.6938 (55-EMA), 0.70 (110-EMA), 0.7073 (61.8% Fib)

    Recommendation: Watch out for break above 55-EMA to go long, target 0.70/ 0.7070

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

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