FxWirePro:AUD/CHF faces strong trend line resistance, good to sell on rallies
Major support – 0.76950 (trend line joining 0.7511 and 0.76881) Major resistance – 0.7750 (trend line joining 0.77984 and 0.77485). AUD/CHF has once again retreated sharply after jumping till 0.77465. It is currently tra…
Major support – 0.76950 (trend line joining 0.7511 and 0.76881)
Major resistance – 0.7750 (trend line joining 0.77984 and 0.77485).
AUD/CHF has once again retreated sharply after jumping till 0.77465. It is currently trading around 0.77055.
The pair is struggling to break above trend line resistance around 0.7750 and any further bullishness can be seen only above that level. Any violation above 0.7750 will take the pair till 0.78069 (Feb 22nd 2017 high).
On the lower side, any break below trend line support will drag the pair down till 0.76500/0.7579 (Feb 9th 2017 low).
It is good to sell on rallies around 0.7705-0.7710 with SL around 0.7750 for the TP of 0.7650/0.7580
