AUD/CHF is under pressure

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Trade idea

SELL 0.7080; TP 0.7040; SL 0.7095

AUD/CHF met resistance around 0.7115/20 (50- and 100-days MA). The downtrend resistance line was also located nearby. The pair topped on H4 and slid below the 100-period MA at this timeframe (0.7085). The odds are that the Aussie weakened by the dovish RBA will revisit at least last week’s lows. The downside target can be put at 0.7040. Further support is at 0.6970.

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FBS Analyst Team

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