FxWirePro: AUD/CHF faces strong resistance at 21 day MA, good to sell on rallies

• Major support – 0.7305 (55 day EMA).
   
• Major intraday resistance -0.7390 (21 day MA)
   
•  The pair has declined once again after jumping till 0.73815. It is currently trading around 0.7455.
   
• AUD/CHF has declined till 0.7310 and jumped from that level. It has taken support near 55 day EMA and recovered till 0.73815 at the time of writing.
   
• The intraday trend is still weak as long as resistance 0.7390 holds. Any break above 0.7390 will take the pair to next level till 0.7440/0.7500. Overall bearish invalidation only above 0.7600.
   
• AUD/CHF has closed well below 21 day MA yesterday. So further break below 0.7300 confirms major weakness, a decline till 0.7250/0.7200 is possible.

It is good to sell on rallies around 0.7350-0.7355 with SL around 0.7390 for the TP of 0.7250/0.7205.