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AUD/CHF turned down

AUD/CHF turned down

Information is not investment advice

AUD/CHF met resistance in the 0.7200 area and then turned down. The pair is currently supported by the 50-day MA at 0.7090. The decline below this level will confirm a lower top, trigger a “Head and Shoulders" pattern and open the way down to 0.7040 and 0.6970 (Fibo levels of the January-February advance). The return above the 100-day MA at 0.7125 is needed to improve the short-term outlook.  

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EUR/CHF: don’t trust the euro

The upside of EUR/CHF has so far been limited by 1.0975. On Monday, the pair slipped below 1.0940 resuming the decline that started last week.

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