Tickmill
Short

AUDCHF approaching resistance, potential drop!

FX:AUDCHF   Australian Dollar / Swiss Franc
AUDCHF is approaching our first resistance at 0.7184 (horizontal swing high resistance, 61.8% Fibonacci extension , 61.8% Fibonacci retracement ) where a strong drop might occur below this level to our major support at 0.7056 (horizontal swing low support).
Stochastic (21,5,3) is also approaching resistance 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.

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This analysis is provided as general market commentary and does not constitute investment advice.
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