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.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.
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