FxWirePro: AUD/CHF Faces Strong Support at 0.7230, Good to Buy at Dips

FxWirePro: AUD/CHF Faces Strong Support at 0.7230, Good to Buy at Dips

1 July 2016, 12:24
Roberto Jacobs
0
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FxWirePro: AUD/CHF Faces Strong Support at 0.7230, Good to Buy at Dips

  • Major resistance – 0.7380 (61.8% retracement of 0.7574 and 0.70323) 
  • Major support – 0.7230 (daily Tenkan-Sen) 
  • AUD/CHF has recovered sharply after making a low of 0.72317 yesterday. It is currently trading around 0.72994. 
  • Short term trend is still bullish as long as minor support 0.7230 holds. 
  • On the lower side, minor support is around 0.7230 (daily Tenkan-Sen) and any break below targets 0.7205/0.7160 (200 day MA). 
  • 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 0.7275-0.7280 with SL around 0.7230 for the TP of 0.7375/0.7410.

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