According to my previous AUD/CHF analysis, the pair failed to break above R2 (0.7092) with a daily close below that level confirming the bearish sentiment.
The R2 still remains key resistane and while the pair is trading near that level a great risk/reward trade is offered.
Consider selling AUD/CHF today near R2, targeting S1 (0.6893) area and stop loss just above the 16.07 high – 0.7108
Support: 0.7042, 0.6893
Resistance: 0.7092, 0.7108
The material has been provided by InstaForex Company – www.instaforex.com