FxWirePro: AUD/CHF faces strong resistance at 0.7380, good to buy at dips
Major resistance – 0.7380 (61.8% retracement of 0.7574 and 0.70323) Major support – 0.7160 (200 4H MA) AUD/CHF has retreated sharply after making a high of 0.73170. It is currently trading around 0.72710. Short term tren…
Major resistance – 0.7380 (61.8% retracement of 0.7574 and 0.70323)
Major support – 0.7160 (200 4H MA)
AUD/CHF has retreated sharply after making a high of 0.73170. It is currently trading around 0.72710.
Short term trend is still bullish as long as resistance 0.7160 holds.
On the lower side, minor support is around 0.7230 (4 Hour Kijun-Sen) and any break below targets 0.7205/0.7178 (61.8% retracement of 0.7097 and 0.73172).
Short term weakness only below 0.7160 (200 4H MA and 27th Jun low).
Technically the minor resistance is around 0.7320 and any break above targets 0.7380/0.7410/0.7450.
It is good to buy at dips around 0.7220 with SL around 0.7160 for the TP of 0.7320/0.7375.
