AUD/CHF approaching resistance, potential drop!

AUD/CHF is approaching our first resistance at 0.7105 (horizontal overlap resistance, 76.4%, 38.2% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing the price down to our major support at 0.778 (horizontal overlap support, 50% Fibonacci retracement).

Stochastic (34,5,3) is also nearing resistance where we might see a corresponding drop in price.

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The material has been provided by InstaForex Company -

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