AUD/CHF long setup
AUD/CHF pair holds above 5-DMA support at 0.7413, intraday bias higher.
Technical indicators have turned bullish, Stochs and RSI have turned north from oversold levels.
We see bullish divergence on Stochs on daily charts which reinforces upside.
20-DMA at 0.7448 is strong resistance, break above required to extend gains.
Support levels - 0.7412 (5-DMA), 0.7396 (23.6% Fib of 0.7806 to 0.7270 fall), 0.73, 0.7270 (trendline)
Resistance levels - 0.7448 (20-DMA), 0.7475 (38.2% Fib), 0.7513 (200-DMA)
Good to go long on breakout above 0.7450, SL: 0.74, TP: 0.7475/ 0.75/ 0.7540
Technical indicators have turned bullish, Stochs and RSI have turned north from oversold levels.
We see bullish divergence on Stochs on daily charts which reinforces upside.
20-DMA at 0.7448 is strong resistance, break above required to extend gains.
Support levels - 0.7412 (5-DMA), 0.7396 (23.6% Fib of 0.7806 to 0.7270 fall), 0.73, 0.7270 (trendline)
Resistance levels - 0.7448 (20-DMA), 0.7475 (38.2% Fib), 0.7513 (200-DMA)
Good to go long on breakout above 0.7450, SL: 0.74, TP: 0.7475/ 0.75/ 0.7540
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