AUD/CHF eyes 110-EMA, stay short on upticks
Uppdaterad
The pair has failed to extend break above 200-DMA, slips lower with a spinning top formation at highs.
Risk-off action on the Asian equities and a non-eventful RBA minutes keep the Aussie on the backfoot.
Technical indicators have turned bearish. Stochs and RSI have rolled over from overbought levels and are biased lower.
MACD is showing a bearish crossover on signal line and we also evidence a bearish divergence on RSI and Stochs which adds to the bearish bias.
Support levels - 0.7198 (110-EMA), 0.7138 (cloud top)
Resistance levels - 0.7278 (5-DMA), 0.7294 (200-DMA), 0.73
Good to stay short on upticks, SL: 0.7280, TP: 0.72/ 0.7140
Risk-off action on the Asian equities and a non-eventful RBA minutes keep the Aussie on the backfoot.
Technical indicators have turned bearish. Stochs and RSI have rolled over from overbought levels and are biased lower.
MACD is showing a bearish crossover on signal line and we also evidence a bearish divergence on RSI and Stochs which adds to the bearish bias.
Support levels - 0.7198 (110-EMA), 0.7138 (cloud top)
Resistance levels - 0.7278 (5-DMA), 0.7294 (200-DMA), 0.73
Good to stay short on upticks, SL: 0.7280, TP: 0.72/ 0.7140
Kommentera
TP1 hit. Recovery lacks traction.
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