FX.co ★ Technical analysis of AUD/CHF for April 25, 2016

After breaking above the descending channel, AUD/CHF found the resistance near the final upside target - R1 (0.7590) of the Fibonacci applied to the channel breakout point.

The RSI Oscillator formed a bearish divergence and price could start moving much lower after rejecting the R1 resistance.

Consider selling AUD/CHF at the current level (0.7515) targeting S1 (0.7350), which is the downtrend trend line breakout level. The stop loss should be well above R1 (0.7590)

Support: 0.7350

Resistance: 7.7590