AUD/CHF breaks trend line support, decline till 0.7480 likely
Major support – 0.7600 (trend line joining 0.74791 and 0.75738)
Major intraday resistance – 0.7660 (100- 4H EMA)
AUD/CHF broken major support of 0.7600 and declined till 0.75850 yesterday. It is currently trading around 0.75991.
AUD hits four month high on Monday and declined sharply from that level after RBA highlights threats in the property market and increase of domestic household debt.
On the lower side, any break below 0.7600 will drag the pair down till 0.74790 (Feb 1st 2017 low).
The near term resistance is around 0.7660 (100- day EMA) and any break above will take the pair till 0.7700/0.77280 (Mar 20th 2017 high).
It is good to sell on rallies around 0.7605-0.7610 with SL around 0.7660 for the TP of 0.7480.
Major intraday resistance – 0.7660 (100- 4H EMA)
AUD/CHF broken major support of 0.7600 and declined till 0.75850 yesterday. It is currently trading around 0.75991.
AUD hits four month high on Monday and declined sharply from that level after RBA highlights threats in the property market and increase of domestic household debt.
On the lower side, any break below 0.7600 will drag the pair down till 0.74790 (Feb 1st 2017 low).
The near term resistance is around 0.7660 (100- day EMA) and any break above will take the pair till 0.7700/0.77280 (Mar 20th 2017 high).
It is good to sell on rallies around 0.7605-0.7610 with SL around 0.7660 for the TP of 0.7480.
