AUDCHF is approaching our first resistance at 0.7235 (horizontal overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.7165 (horizontal swing low support, 38.2% Fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance and seeing a bearish divergence and we might see a corresponding drop in price should it react off this level.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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