AUD/CHF spikes past 100-DMA, eyes 200-DMA, stay long
AUD/CHF spikes past 100-DMA, hits 3-month highs at 0.7511 before paring some gains to currently trade at 0.75 levels.
Aussie buoyed on Friday after the Reserve Bank of Australai's (RBA) Financial Stability Report (FSR).
RBA's FSR stated that the risks from high-household debt and aggressive bank lending practices have slightly abated of late.
The pair is trading 0.65% higher on the day, scope for further upside.
Technical support gains. RSI shows strong upside momentum at 64 levels and Stochs are biased higher.
Next bull target aligns at 200-DMA at 0.7541. Break out at 200-DMA could propel the pair higher.
We see weakness only on close below 21-EMA at 0.7388.
Support levels - 0.7485 (50% Fib), 0.7466 (100-DMA), 0.7434 (5-DMA)
Resistance levels - 0.7541 (200-DMA), 0.76, 0.7680 (major trendline)
Good to go long around 0.7480/90, SL: 07430, TP: 0.7540/ 0.76/ 0.7680
Aussie buoyed on Friday after the Reserve Bank of Australai's (RBA) Financial Stability Report (FSR).
RBA's FSR stated that the risks from high-household debt and aggressive bank lending practices have slightly abated of late.
The pair is trading 0.65% higher on the day, scope for further upside.
Technical support gains. RSI shows strong upside momentum at 64 levels and Stochs are biased higher.
Next bull target aligns at 200-DMA at 0.7541. Break out at 200-DMA could propel the pair higher.
We see weakness only on close below 21-EMA at 0.7388.
Support levels - 0.7485 (50% Fib), 0.7466 (100-DMA), 0.7434 (5-DMA)
Resistance levels - 0.7541 (200-DMA), 0.76, 0.7680 (major trendline)
Good to go long around 0.7480/90, SL: 07430, TP: 0.7540/ 0.76/ 0.7680