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Aud-chf

AUD/CHF breaks major support at 0.7235, short ralliesAUD/CHF has broken below major trendline support at 0.7235, intraday bias lower. Aussie dented after China Caixin manufacturing PMI dipped into contraction territory in May, widely missing forecasts. China's Caixin manufacturing PMI for May arrived at 49.6 vs 50.1 expected and 50.3 last, slipping into contraction on slower increases in output and new orders. Slight rebound in Switzerland GDP after two disappointing quarters keeps CHF supported. Data released earlier today showed Switzerland Gross Domestic Product (YoY) climbed from previous 0.6% to 1.1% in Q1. AUD/CHF is currently hovering around 61.8% Fib of 0.6752 to 0.7806 rise. Break below finds next major support at 0.7032 (June 16 2016 low). Bearish invalidation only on close above 20-DMA at 0.7305. Support levels - 0.7155 (61.8% Fib), 0.7097 (June 24 2016 low), 0.7032 (June 16 2016 low) Resistance levels - 0.7230 (5-DMA), 0.7235 (trendline support turned resistance), 0.7280 (50% Fib), 0.7305 (20-DMA) Good to go short on rallies around 0.7190, SL: 0.7240, TP: 0.7155/ 0.71/ 0.7035
Short
by FxWirePro
AUD/CHF long setupAUD/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
Long
by FxWirePro
3
AUD/CHF slumps to fresh 4-month lows, bias lower Aussie continues to trade under immense pressure, AUD/CHF slumps to fresh 4-month lows. Aussie dented from hawkish FOMC monetary policy statement, falling commodity prices and disappointing release of Australian trade balance data and China Caixin Services PMI. A modest recovery in copper prices, and RBA Governor Lowe’s hawkish comments failed to lend any immediate respite. RSI convergence with downside price action continues, suggesting more downswings on cards. The pair has breached major trendline support at 0.74 raising scope for test of 0.7250 levels. On the weekly charts, price action has broken below 50-SMA at 0.7456. Support levels - 0.7342 (Sept 30 low), 0.73, 0.7250 (trendline) Resistance levels – 0.74 (trendline), 0.7428 (5-DMA), 0.7505 (20-DMA) Good to go short around 0.7380/90, SL: 0.7430, TP: 0.7340/ 0.73/ 0.7255
Short
by FxWirePro
AUD/CHF on track to test 200-DMA, stay shortAUD/CHF has been rejected at session highs at 0.7581, intraday bias lower. The pair finds strong support by daily cloud base at 0.7538, break below will accentuate weakness. Technical studies are bearish, break below daily cloud raises scope for test of 200-DMA at 0.7502. Violation at 200-DMA to see test of 0.7475 and then 0.7435 (Nov 11 low). On the flipside we see bearish invalidation only on close above 5-DMA at 0.7575. Close above 5-DMA could take the pair to 20-DMA resistance at 0.7612. Support levels - 0.7538 (cloud base), 0.7502 (200-DMA), 0.7475 (Mar 27 low), 0.7435 (Nov 11, 2016 low) Resistance levels - 0.7575 (5-DMA), 0.76, 0.7612 (20-DMA), 0.7634 (April 5 high) Good to go short on rallies around 0.7560, SL: 0.76, TP: 0.75/ 0.7475/ 0.7435
Short
by FxWirePro
AUD/CHF short setupAUD/CHF retraced brief dip below 200-DMA at 0.7484 on Monday's trade. However, recovery attempts on the day were rejected at session highs at 0.7529. The pair has slipped lower to currently trade unchanged at 0.7503 level. Momentum studies are bearish, break below 200-DMA will see test of channel base at 0.7375 levels. On weekly charts the pair has slipped below 20-SMA and RSI and Stochs are biased lower. Support levels - 0.7486 (200-DMA), 0.7420 (50% Fib retrace of 0.7032 to 0.7807 rally), 0.7375 (trendline) Resistance levels - 0.7516 (cloud base), 0.7548 (5-DMA), 0.76, 0.7624 (23.6% Fib) Good to go short on rallies around 0.7510, SL: 0.7555, TP: 0.7420/ 0.7375
Short
by FxWirePro
Macro - Market Barometer UpdateHi guys, I wanted to take a look at the EUR on a large time frame and I was surprised at what I found. I figure I would look at the other currencies and post my results. Here is a look at Macro on the Market Barometer. Keep in mind that we are looking at very large time frames, but... the long term trend predictions tend to be very accurate. I broke down each currency: The GBP is recovering from a massive sell-off. We are still below up trending resistance, but we could see mild strength over the long term because we broke above short term down trending resistance. However, another dip into weakness is more likely. Based on how currencies tend to trend. We usually see double tops and bottoms in extreme ranges on the longer time frames. The CHF is coming off the bottom of a huge wedge. We should see continued strength over the long term until it reaches the top of the wedge. The EUR is flirting with down trending resistance. If the EUR fails, we will see massive weakness over the long term. If the EUR holds above, we will see slow continued strength. There are a few ways to read the JPY. My take: recently, the JPY had a massive sell-off, the last leg 'up' is a fib retracement and we are getting ready for another push down. The chart says that we are at the bottom of a wedge and headed up. The NZD is stilling on 50 and I'm not totally sure where to draw support. While it's sitting near the 50 level, anything is possible from this area. No bias detected. The USD is right smack in the middle of a huge wedge. No bias is detected. The CAD is also right smack in the middle of a huge wedge. No bias is detected. The CHF is coming off the bottom of a huge wedge. We should see continued strength over the long term until it reaches the top of the wedge.
by riffster21
1