FxWirePro:AUD/CHF faces strong resistance at 0.7605, good to buy on dips
Thursday, January 12, 2017 9:01 AM UTC
- Major resistance -0.7605 (trend line joining 0.76650 and 0.7627)
- Major support - 0.7450
- AUD/CHF forms a temporary bottom at 0.72680 and started to jump sharply from that level. It is currently trading around 0.7560.
- On the higher side, any break above 0.7600 will take the pair till 0.76650 (Oct 26th 2016 high)/0.7750.
- The immediate support stands at 0.7490 and any break below targets 0.7450/0.7380 (200- day MA).
- Any close above 0.7660 confirms major trend reversal.
It is good to buy on dips around 0.75400 with SL around 0.7490 for the TP of 0.76600.