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
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
Comment:
Targets almost hit. Support at 0.7342. Break below will see further downside.
