AUD/CHF continues to trend up printing lower lows and lower highs. Firstly, the pair rejected 200 and 50 Moving Averages suggesting that the uptrend could be far from over, in fact it could be just the very beginning of another strong wave up.
Consider buying AUD/CHF at the current rate (0.7575), targeting one the Fibonacci retracement levels applied to the last corrective wave down where trendline has been rejected. There are three upside targets; 161.8% (0.7603), 261.8% (0.7660), 361.8% (0.7720). Suggested stop loss is below 200 Moving Average.
Support: 0.7570, 0.7510
Resistance: 0.7603, 0.7660, 0.7720
From www.instaforex.com http://ift.tt/2fHaH6h
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