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AUD/CHF faces strong resistance at 0.7550, break above targets 0.7600/0.7650

Tuesday, August 9, 2016 11:59 AM UTC

Major support – 0.7410 (21 day MA).
Major resistance -0.7550.
The pair has broken minor psychological resistance 0.7500 and jumped till 0.753431 yesterday. It is currently trading around 0.75312.
AUD/CHF is facing strong resistance at 0.7550 and any further bullishness only above that level.
Short term trend is still bullish as long as support 0.7410 holds. Any break above 0.7550 will take the pair to next level till 0.7600/0.7650. Overall bullish invalidation only below 0.7230.
On the lower side minor support is around 0.7465 and any break below will drag the pair down till 0.7410/0.7350.

It is good to buy above 0.7550 with SL around 0.7490 for the TP of 0.7600/0.7650.

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AUD/CHF faces strong resistance at 0.7550, break above targets 0.7600/0.7650

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