Fxwirepro:aud/chf Faces Strong Resistance at 0.7605, Good to Buy on Dips

  • 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.

The material has been provided by InstaForex Company – www.instaforex.com

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