AUD/CHF 200-DMA breakout, stay long
Technical Studies: Bias Bullish
- 200-DMA breakout
- Tests 50-DMA resistance at 0.7574
- RSI and Stochs biased higher, RSI above 50 gaining traction
- Bullish 5 and 20 DMA crossover
- Bollinger bands widening
Fundamental Studies:
- Aussie continues to be supported higher, extends gains across the board on strong Aussie jobs data.
- The ABS reported earlier today that the Australian economy added 61.6K jobs in November, beating consensus at 18K.
- Full-time employment stood at 41.9k (prior 24.7k), while part-time employment 19.7k (prior -20.3k), while the participation rate ticked higher to 65.5 percent from 65.1 percent.
- On Wednesday, Australia consumer confidence surprised to the upside.
- The Westpac Melbourne Institute Index of Consumer Sentiment up 3.6% to 103.3 in December from 99.7 in November.
- CHF extends weakness after SNB has kept its interest rates unchanged in its quarterly interest rate setting decision.
Support levels - 0.7562 (38.2% Fib retrace of 0.77966 to 0.7417 fall), 0.7527 (200-DMA), 0.7506 (23.6% Fib)
Resistance levels - 0.7574 (50-DMA), 0.7606 (50% Fib), 0.7650 (trendline)
Good to go long on breakout at 50-DMA, SL: 0.7530, TP: 0.76/ 0.7650
- 200-DMA breakout
- Tests 50-DMA resistance at 0.7574
- RSI and Stochs biased higher, RSI above 50 gaining traction
- Bullish 5 and 20 DMA crossover
- Bollinger bands widening
Fundamental Studies:
- Aussie continues to be supported higher, extends gains across the board on strong Aussie jobs data.
- The ABS reported earlier today that the Australian economy added 61.6K jobs in November, beating consensus at 18K.
- Full-time employment stood at 41.9k (prior 24.7k), while part-time employment 19.7k (prior -20.3k), while the participation rate ticked higher to 65.5 percent from 65.1 percent.
- On Wednesday, Australia consumer confidence surprised to the upside.
- The Westpac Melbourne Institute Index of Consumer Sentiment up 3.6% to 103.3 in December from 99.7 in November.
- CHF extends weakness after SNB has kept its interest rates unchanged in its quarterly interest rate setting decision.
Support levels - 0.7562 (38.2% Fib retrace of 0.77966 to 0.7417 fall), 0.7527 (200-DMA), 0.7506 (23.6% Fib)
Resistance levels - 0.7574 (50-DMA), 0.7606 (50% Fib), 0.7650 (trendline)
Good to go long on breakout at 50-DMA, SL: 0.7530, TP: 0.76/ 0.7650
Comment:
TP1 hit, bias higher.
