FxWirePro: AUD/CHF capped at 55-ema, good to go long on break above
Source: FxWire Pro - Technicals / 16 Jul 2019 09:59:44 Europe/London
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.
© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.