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2017.03.2301:53:00UTC+00Fxwirepro: Aud/chf Breaks Trend Line Support, Decline Till 0.7480 Likely

  • Major support – 0.7600 (trend line joining 0.74791 and 0.75738).
     
  • Major intra day resistance – 0.7660 (100- 4H EMA).
     
  • AUD/CHF broken major support of 0.7600 and declined till 0.75850 yesterday. It is currently trading around 0.76001.
     
  • AUD hits four month high on Monday and declined sharply from that level after RBA highlights threats in the property market and increase of domestic household debt.
     
  • On the lower side, any break below 0.7600 will drag the pair down till 0.74790 (Feb 1st 2017 low).
     
  • The near term resistance is around 0.7660 (100- day EMA) and any break above will take the pair till 0.7700/0.77280 (Mar 20th 2017 high).

    It is good to sell on rallies around 0.7605-0.7610 with SL around 0.7660 for the TP of 0.7480.

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