Chart Of The Day: Sustained Break Of Horizontal-Line Favors AUDCHF’s North-Run

Thu, 14 Sep 2017 06:54

With the AUDCHF's sustained break of 0.7685-90 horizontal-line, the pair becomes strong contestant to extend its north-run towards 0.7760 nearby resistance ahead of confronting with the upper-line of short-term ascending channel, at 0.7790 now. Given the quote's additional rise beyond 0.7790, the 0.7815 and the 0.7830 may entertain follow-on buyers before pleasing them with 0.7900 round-figure.

Should prices drop below 0.7685, the 0.7655 and the channel-support figure of 0.7635 can try curbing the pair's downside, failing to which may flash 0.7590 support-mark on the chart. However, an upward slanting trend-line, stretched since July, at 0.7575, could restrict the pair's declines below 0.7590, clearing which chances of its southward trajectory to 0.7500 can't be denied.

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