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Technical analysis of AUD/CHF for September 27, 2016

The AUD/CHF pair continues producing higher highs and today broke above the descending channel. On Monday, the pair rejected the 200 Moving Average while forming a bullish divergence on the MACD. The rate moved higher and then also rejected the 50 Moving Average.

The trend appears to be bullish and therefore consider buying AUD/CHF while the rate is near the 50% Fibs (0.7430), targeting either 38.2% (0.7473), 23.6% (0.7525) or 0% Fibs (0.7610) as the final upside target. The stop loss should be just below the 61.8% Fibs (0.7380).

Support: 0.7386, 0.7430

Resistance:0.7473. 0.7526, 0.7612

AUDCHF_INSTA.png

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