AUD/CHF long setup
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AUD/CHF struggles to break above stiff resistance at 4H 200-SMA at 0.7348.
Technical studies are bullish and breakout at 4H 200-SMA could see further upside.
The Reserve Bank of Australia kept rates unchanged at record low of 1.5 percent. The statement was in line with what was expected.
AUD/CHF up 0.36% on the day, trading at 0.7341 at the time of writing.
Technical indicators have turned bullish. RSI has edged above 50 levels and Stochs are biased higher.
Further, bullish divergence on RSI and Stochs keeps scope for upside in the pair.
On the downside, break below major support at 0.7260 will see further weakness. Scope then for test of 0.7148 levels.
Support levels - 0.7317 (5-DMA), 0.7266 (Feb 9th low), 0.7260 (trendline), 0.7242 (March 2 low)
Resistance levels - 0.7348 (4H 200-SMA), 0.7361 (20-DMA), 0.74
Watch out for break above 4H 200-SMA to go long, SL: 0.7315, TP: 0.7375/ 0.74.
Technical studies are bullish and breakout at 4H 200-SMA could see further upside.
The Reserve Bank of Australia kept rates unchanged at record low of 1.5 percent. The statement was in line with what was expected.
AUD/CHF up 0.36% on the day, trading at 0.7341 at the time of writing.
Technical indicators have turned bullish. RSI has edged above 50 levels and Stochs are biased higher.
Further, bullish divergence on RSI and Stochs keeps scope for upside in the pair.
On the downside, break below major support at 0.7260 will see further weakness. Scope then for test of 0.7148 levels.
Support levels - 0.7317 (5-DMA), 0.7266 (Feb 9th low), 0.7260 (trendline), 0.7242 (March 2 low)
Resistance levels - 0.7348 (4H 200-SMA), 0.7361 (20-DMA), 0.74
Watch out for break above 4H 200-SMA to go long, SL: 0.7315, TP: 0.7375/ 0.74.
Komen
Aussie supported higher after upbeat Australia Trade Balance figures, AUD/CHF extended retail sales led gains.The pair hit session highs at 0.7418 before paring some gain to currently trade at 0.7399 levels.
Upside is struggling at Ichimoku cloud base, break above will see resumption of upside in the pair.
Book partial profits at highs. Trail stop loss to 0.7360, hold for 0.7425/ 0.7470
Penafian
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