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AUDCHF At Long Term Resistance Area – 26th March

AUDCHF At Long Term Resistance Area – 26th March

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

AUDCHF CHART AUDCHF At Long Term Resistance Area   26th March

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