AUD/CHF has opened trade with a bullish gap up in the Asian session as markets open after holidays. The pair is hovering around major trendline resistance at 0.7635, breakout to see further upside. Technical studies support upside in the pair, price action has broken above daily cloud. RSI shows strength above 50 levels and is gaining traction. Momentum studies bullish. ADX and MACD also support upside in the pair.
Support levels - 0.7604 (100-DMA), 0.7596 (5-DMA), 0.7570 (50-DMA) Resistance levels - 0.7651 (61.8% Fib retracement of 0.78 to 0.7417 fall), 0.77, 0.7715 (78.6% Fib)
Stay long on close above 0.7635, SL: 0.76, TP: 0.77/ 0.7715
Could be of course. But AUD may be somewhat dependent on a continuation of seemingly never-ending risk on,
plus a lot of studies have USD/CHF looking for weakness, which would weight on CHF weakening.
plus a lot of studies have USD/CHF looking for weakness, which would weight on CHF weakening.
I'll watch it. But I won't play it here or now.