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AUD/CHF| Possible Bearish Continuation

AUD/CHF Long-Term Trend: Bearish

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Key Resistance Levels: 0.65900, 0.65954, 0.66020

Key Support Levels: 0.65621, 0.65401, 0.65277

4-Hour Chart:

We made an attempt at consolidating on the diagonal support line, but that failed and we now seem to be making another breakout to the downside.  

AUD/CHF Medium-Term Trend: Bearish

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1-Hour Chart:

Elliot wave signals a (12345)-wave count may be under way. If so, this may be the final leg down before we finally find some long term support.

Signal Idea:

Sell Limit order @ 0.65867

TP 1 @ 0.65486

TP 2 @ 0.65283

Stop Loss @ 0.66071

Trade Safely 🙂

About Patrick Mwenge

A chartered accountant and trader, Patrick has 7 years of financial market experience, covering commodities,FX, equities as well as crypto currencies. Patrick leverages both long term Elliot wave analysis alongside volume and time price opportunity to explore trading opportunities on both long and short term timeframes.

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