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Technical analysis for the AUD/CHF, the pair is sitting at important dynamic and horizontal support and 0.618 FIB retracement at 0.6660-70. On the daily chart, the AUD/CHF pair is trading within a range between on the 0.6813-0.6696. Breaking below the 0.6696 will send the pair lower for a retest of the key support at 06665-70. A break below the key support will send the AUD/CHF lower toward the 1.272 FIB extension and the low at 0.6513.
Looking at the weekly chart, we can see that 0.6513 is a key low, and a break below it will open the door for a bearish run toward the support and the low at 0.6372. This potential breakout below 0.6513 will not only send the price to retest the 0.6372, but it will open the door for a bearish run toward the 0.618 FIB retracement on the monthly chart at 0.6075.
On the other hand, if the daily chart break above 0.6813, that will send the AUD/CHF pair higher toward the double tops at 0.6932. A break above 0.6932 will send the AUD/CHF higher toward the resistance at between 0.6975-0.7020 and eventually toward the high at 0.7260.
Daily chart:
Weekly chart:
