AUD/CHF Trade Idea

• Major support – 0.7370 (21- day MA)
   
• The pair has broken 21- day MA at 0.7370 and jumped till 0.74164 from that level.  It is currently trading around 0.73827.
   
• AUD/CHF is trading slightly above 21- day MA and a jump till 0.7440 (61.8% retracement of 0.7570 and 0.72470)/0.75005 (Sep 6th 2016 high)/0.7570.
   
• On the lower side, support stands at 0.7358 (10- day MA) and any break below targets 0.7290 (100- day MA)/0.7250 (200- day MA)
   
• Short term trend reversal only below 0.7250.

It is good to buy on dips around 0.7360 with SL around 0.7290 for the TP of 0.7440/0.7500.

​​Resistance 

R1- 0.7440

 R2-0.7500

 R3-0.7570

Support    

S1-0.7358

S2-0.7290

S3-0.7250