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Long

AUD/CHF trades higher on upbeat economic data,good to buy at dip

FX:AUDCHF   Australian Dollar/Swiss Franc
63 0 2
Major resistance -0.7155 (trend line joining 0.7245 and 0.7200)

AUD/CHF             has violated trend resistance and jumped till 0.7195 at the time of writing. It is currently trading around 0.71785.

Aussie traded higher against all major pair’s today morning on upbeat building approvals combined with positive current account data.

Short term is still bullish as long as 0.7805 low made on 26th May 2016 holds.

The pair’s immediate support is around 0.7130 (200 day MA) and break below targets 0.7805/0.7058.

Short term bullish invalidation only below 0.7050.

On the higher side short term resistance is around 0.7200 and any indicative break above will take the pair till 0.7225/0.7285 level.

It is good to buy at dips around 0.7150 with SL around 0.7080 for the TP of 0.7245/0.7285
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