FxWirePro: AUD/CHF Faces Strong Resistance at 0.7380, Good to Buy at Dips

FxWirePro: AUD/CHF Faces Strong Resistance at 0.7380, Good to Buy at Dips

30 June 2016, 11:16
Roberto Jacobs
0
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FxWirePro: AUD/CHF Faces Strong Resistance at 0.7380, Good to Buy at Dips

  • Major resistance – 0.7380 (61.8% retracement of 0.7574 and 0.70323) 
  • Major support – 0.7160 (200 4H MA) 
  • AUD/CHF has retreated sharply after making a high of 0.73170. It is currently trading around 0.72710. 
  • Short term trend is still bullish as long as resistance 0.7160 holds. 
  • On the lower side, minor support is around 0.7230 (4 Hour Kijun-Sen) and any break below targets 0.7205/0.7178 (61.8% retracement of 0.7097 and 0.73172). 
  • Short term weakness only below 0.7160 (200 4H MA and 27th Jun low). 
  • Technically the minor resistance is around 0.7320 and any break above targets 0.7380/0.7410/0.7450.

It is good to buy at dips around 0.7220 with SL around 0.7160 for the TP of 0.7320/0.7375.

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