AUD/CHF| Possible Bearish Pull-back

AUD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.65718, 0.65750, 0.65802

Key Support Levels: 0.65407, 0.65090, 0.64930

3-Hour Chart:

We have seen an 11 day bear market followed by a bullish correction. The correction took us into a resistance area that may kick off another bearish move if we fail to breach it. We got one fail already and are currently testing the resistance zone 

AUD/CHF Medium-Term Trend: Bearish

30-Minute Chart:

Elliot-wave suggests this may be a 12345 play and we are currently looking for a 4th wave top before we make a potential final dip downwards.

Signal Idea:

Sell Market order @ 0.65736

TP 1 @ 0.65271

TP 2 @ 0.64998

Stop Loss @ 0.65935

Trade Safely 🙂