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Technical Analysis for AUD/CHF, the pair broke above descending trend line on the weekly and the daily charts and reached the previous high at 0.618 FIB retracement at 0.6930-35. A break above 0.6935 will resume the bullish trend on the weekly chart and send the AUD/CHF higher. The first target for this potential bullish breakout is the 2.272 FIB extension on the daily chart at 0.7085, where we have the 0.786 FIB retracement on the weekly chart. The second target is the 2.618 FIB extension on the daily chart at 0.7175. The target for the AUD/CHF is the previous high on the weekly chart at 0.7259.
In case of a pullback, the low at 0.6731, where we have the daily 200 EMA and the weekly 50 EMA, will be watched for rejection and resumption of the bullish trend for the AUD/CHF.
Daily chart:
