AUD/CHF Testing Resistance, Prepare For Reversal

The AUD/CHF pair is testing its resistance at 0.7110 (61.8% Fibonacci extension, 61.8 % Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.6970 (38.2% Fibonacci retracement, horizontal swing low support) is expected.

Stochastic (55, 5, 3) has reversed off its resistance at 98% where a corresponding drop is anticipated.

AUD/CHF is testing its resistance where we expect to see a reversal.

Sell below 0.7110. Stop loss at 0.7228. Take profit at 0.6970.

analytics5c3bfa2df062d.png

The material has been provided by InstaForex Company - www.instaforex.com