easyMarkets

AUDCHF approaching resistance, potential drop!

Short
FX:AUDCHF   Australian Dollar / Swiss Franc
AUDCHF is approaching our first resistance at 0.7113 (horizontal overlap resistance, 61.8% fibonacci retracement) where a strong drop might occur pushing price down to our major support at 0.6954 (horizontal swing low support, 38.2% fibonacci retracement).
Stochastic (89,5,3) is also approaching our resistance and seeing a bearish divergence where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

Come join us today at : www.easymarkets.com/
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.