AUD/CHF closes below 61.8% Fib, bias bearish, tgt 78.6% Fib
AUD/CHF Bias Bearish
- Price has breached major trendline support at 0.70
- Momentum studies are highly bearish
- Bollinger Bands on weekly charts are widening
- MACD supports trend lower
Support levels - 0.6805 (78.6% Fib), 0.6752 (Feb 2016 low), 0.67
Resistance levels - 0.6964 (5-DMA), 0.70, 0.7108 (21-EMA)
Stay short on upticks, SL: 0.7108, TP: 0.68/ 0.6755
- Price has breached major trendline support at 0.70
- Momentum studies are highly bearish
- Bollinger Bands on weekly charts are widening
- MACD supports trend lower
Support levels - 0.6805 (78.6% Fib), 0.6752 (Feb 2016 low), 0.67
Resistance levels - 0.6964 (5-DMA), 0.70, 0.7108 (21-EMA)
Stay short on upticks, SL: 0.7108, TP: 0.68/ 0.6755
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