AUD/CHF aiming for lower low

Following my previous AUD/CHF analysis, the pair still should move lower. The rate continued declining without printing new highs.

While S1 (0.7171) has been broken, it might act as a resistance now offering a good selling opportunity. Consider selling AUD/CHF anywhere between the current level (0.7150) and S1, which is now the nearest resistance (0.7171). Only daily close above S1 (0.7171) could change the direction of the trend.

Support: 0.7076, 0.7042

Resistance: 0.7171, 0.7229, 0.7277

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Performed by Viktor Bajer, Analytical expert InstaForex Group © 2007-2015

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AUD/CHF aiming for lower low