FxWirePro: AUD/CHF holds trendline support, good to buy dips
AUD/CHF trading in a rising wedge formation, has taken trendline support and edged higher to trade at 0.7146. Daily Stochs have rolled over from oversold territory and are showing a bullish crossover, further gains likel…
AUD/CHF trading in a rising wedge formation, has taken trendline support and edged higher to trade at 0.7146.
Daily Stochs have rolled over from oversold territory and are showing a bullish crossover, further gains likely.
Strong resistance is seen at 0.7196 (double top 11th, 17th Dec), while supports on the downside are located at 0.7099 (cloud top) and further below at 0.7080 (trendline).
Breaks above 0.7196 will target 0.7240 (38.2 % Fib of 0.7549-0.7046 fall).
Recommendation: Good to buy dips around 0.7130, SL: 0.7070, TP1: 0.7195, TP2: 0.7240
