- AUD/CHF trading in a rising wedge formation, has taken trendline support and edged higher to trade at 0.7146.
- Daily Stochs have rolled over from oversold territory and are showing a bullish crossover, further gains likely.
- Strong resistance is seen at 0.7196 (double top 11th, 17th Dec), while supports on the downside are located at 0.7099 (cloud top) and further below at 0.7080 (trendline).
- Breaks above 0.7196 will target 0.7240 (38.2 % Fib of 0.7549-0.7046 fall).
Recommendation: Good to buy dips around 0.7130, SL: 0.7070, TP1: 0.7195, TP2: 0.7240
The material has been provided by InstaForex Company – www.instaforex.com