- Major support – 0.7600 (trend line joining 0.74791 and 0.75738).
- Major intraday resistance – 0.7660 (100- 4H EMA).
- AUD/CHF broken major support of 0.7600 and declined till 0.75722 at the time of writing. It is currently trading around 0.75820.
- AUD hits four month high on Monday and declined sharply from that level after RBA highlights threats in the property market and increase of domestic household debt.
- On the lower side, any break below 0.7600 will drag the pair down till 0.74790 (Feb 1st 2017 low).
- The near term resistance is around 0.7660 (100- day EMA) and any break above will take the pair till 0.7700/0.77280 (Mar 20th 2017 high).
It is good to sell on rallies around 0.7605-0.7610 with SL around 0.7660 for the TP of 0.7480.
Resistance
R1-0.7660
R2 -0.7700
R3- 0.77280
Support
S1-0.7570
S2-0.75365
S3-0.74790