AUD/CHF Technical Analysis: Failure to clear 0.7175 signals pullback
|- The AUD/CHF pair rose nearly 80 pips to the day’s high of 0.7156 during initial hours of Asian session on Monday.
- However, the pair couldn’t surpass the 0.7170-75 horizontal resistance-area including mid-January highs to early February lows.
- As a result, chances of its pullback to the 0.7080-75 support-zone become brighter.
- If at all prices decline under 0.7075, 0.7050, 0.7000 and 0.6955 are likely following numbers to appear on the chart.
- Alternatively, an upside clearance of 0.7175 enables the pair to aim for 0.7200 and 0.7235 ahead of targeting the early month high around 0.7260.
- During the pair’s sustained upmoves past-0.7260, the 61.8% Fibonacci expansion of its January-February advances after the flash crash low, at 0.7340, could become bulls’ favorite.
AUD/CHF 4-Hourly chart
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