AUD/CHF Trade Idea

• Major resistance- 0.7600 (Apr 21st high).
   
• Major support – 0.7520 (23.6% retracement of 0.7280 and 0.75988).
   
• The pair is facing strong resistance at 0.7600 and any break above 0.76000 confirms major trend reversal. It is currently trading around 0.75960.
   
• On the higher side, any violation above 0.76000 will take the pair to next immediate resistance 0.7680/0.7745 (Mar 13th 2016 high)/0.777 (161.8% retracement of 0.7570 and 0.72470).
   
• The immediate support is at 0.7520 and any break below will drag the pair down till 0.7484 (9- day EMA)/0.7441 (21-day MA).

It is good to buy above 0.7600 with SL around 0.7520 for the TP of 0.7750/0.7770.

Resistance

R1-0.7600

R2-0.7680

R3-0.7745

Support               

S1-0.7520

S2-0.74840

S3-0.7441