AUD/CHF breaks above 20-DMA, good to long on dips
Updated
AUD/CHF resumes upside, has failed to close below 50-DMA, currently at 0.7505, which is strong support on the downside.
Intraday bias higher, the pair has broken above 20-DMA at 0.7540.
Price action holds above daily cloud, RSI is above 50 levels and biased north, Stoch have bounced off from near oversold levels.
We see scope for test of trendline resistance at 0.7630, bullish invalidation only on close below 50-DMA.
Support levels - 0.7540 (20-DMA), 0.7505 (50-DMA), 0.7480 (cloud top)
Resistance levels - 0.7585 (session high), 0.7630 (trendline), 0.7660 (Oct 26 high)
Good to go long on dips around 0.7540/50, SL: 0.75, TP: 0.7585/ 0.76/ 0.7630
Intraday bias higher, the pair has broken above 20-DMA at 0.7540.
Price action holds above daily cloud, RSI is above 50 levels and biased north, Stoch have bounced off from near oversold levels.
We see scope for test of trendline resistance at 0.7630, bullish invalidation only on close below 50-DMA.
Support levels - 0.7540 (20-DMA), 0.7505 (50-DMA), 0.7480 (cloud top)
Resistance levels - 0.7585 (session high), 0.7630 (trendline), 0.7660 (Oct 26 high)
Good to go long on dips around 0.7540/50, SL: 0.75, TP: 0.7585/ 0.76/ 0.7630
Comment
Hit 0.76Comment
Hits highs of 0.7621, bias higher.
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