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CHFAUD is approaching support, potential bounce!

Long
SWISS FRANC / AUSTRALIAN DOLLAR (FX_IDC:CHFAUD)  
Tickmill Broker Updated   
FX_IDC:CHFAUD   SWISS FRANC / AUSTRALIAN DOLLAR
Trend Analysis Harmonic Patterns Chart Patterns CHFAUD chf aud chfaudlong chfaudshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern chfaud chf aud chfaudlong chfaudshort forex forextrading forexsignals
CHFAUD is approaching our first support at 1.3304 (horizontal swing low support, 100% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 1.3601 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).

Stochastic (21,5,3) is also approaching our major support and is seeing a bullish divergence, which might be a good precursor for a potential rise in price.

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Comment:
Wohooo! price is bouncing nicely off our support :)
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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