Tickmill

CHFAUD approaching support, potential bounce!

Panjang
FX_IDC:CHFAUD   SWISS FRANC / AUSTRALIAN DOLLAR
CHFAUD is approaching our first support at 1.3312 (horizontal overlap support, 100% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 1.3480 (horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement).

Stochastic (89,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.

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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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