AUD/CHF fails to hold below 200-DMA, long break above 0.7414AUD/CHF fails to hold break below 200-DMA.
The pair is on track to test 1H 100-SMA at 0.7414.
Break above could see gains upto 20-DMA at 0.7506.
Support levels - 0.7375 (200-DMA), 0.7370 (1H 20-SMA), 0.7342 (Sept 30 low), 0.7245 (trendline)
Resistance levels - 0.7412 (5-DMA), 0.7414 (1H 100-SMA), 0.7462 (100-DMA), 0.75 (20-DMA)
Good to go long on breakout above 0.7414, SL: 0.7370, TP: 0.7470/ 0.7500
Aud-chf
AUD/CHF slips below 100-DMA, good to go short on rallies AUD/CHF trades with a bearish bias. Momentum studies support downside.
The pair has broken below major trendline support at 0.7460 and 100-DMA at 0.7464.
Price holds above 0.74 handle which is minor support level. Break below finds next support at 0.7375 (200-DMA) and then 0.7280 levels.
Support levels - 0.7402 (session low), 0.7375 (200-DMA), 0.7342 (Sept 30 low)
Resistance levels - 0.7448 (5-DMA), 0.7464 (100-DMA), 0.75 (Dec 19 high)
Good to go short on rallies around 0.7450, SL: 0.75, TP: 0.74/0.7375/0.7345
AUD/CHF short ideaCurrently watching AUD/CHF as I expect a downward move to break a multiple time tested trend line and 200 EMA. Price is forming an ascending wedge (bearish reversal pattern), MACD showing bearish divergence.
Still early to enter short, I will wait a break and retest of trend line and 200 EMA.
AUD/CHF back again on dynamic resistance.AUD / CHF back again on dynamic resistance.
We have seen currency pair bounced inside the channel for nearly two months.
Monitor closely the price movements in the 0.7630 to 0.7680 area. A new bounce or overcoming this could be good opportunities to invest in the pair.