FX.co ★ AUDCHF facing bullish pressure

AUDCHF is approaching the swing high resistance in line with the 88.6% Fibonacci retracement . We can expect prices to continue to rally up. Our bullish bias is further supported by the price holding above the EMA and breaking through the 100 Moving average.

Trading Recommendation

Entry: 0.67603

Reason for Entry:

Fibonacci retracement level 74.6%

Take Profit: 0.67931

Reason for Take Profit:

Horizontal swing high resistance which is in line with the 88.6% Fibonacci extension level.

Stop Loss: 0.66759

Reason for Stop Loss:

Fibonacci retracement 23.6%