AUDCHF Hits Long Term Resistance Area – 26th March
- AUD/CHF had hit an element of resistance recently, around 0.9900, after moving strongly to the upside since January.
- Price has now broken above the aforementioned 0.9900 area on the intra-day basis and has also closed the day above this technical point of interest.
- If this recent Aussie dollar/Swiss franc uptrend is to continue, the following areas would need to be contended with in the first instance:
- The 61.8% retrace of the 1.0344 – 0.9356 swing lower is located around 0.9965.
- AUDCHF parity is just above this Fibonacci level.
- Conversely, any sustained drop below 0.9900 could potentially see a resumption of the range trading scenario.
AUDCHF – D1 Chart