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AUD/CHF Potential Downward Movement

AUD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.58363, 0.58563, 0.58871

Key Support Levels: 0.58103, 0.57810, 0.57539

4-Hour Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at the 0.61500 level and reversed. The pair has continued to break a few support levels which suggests further trend continuation.

AUD/CHF Medium-Term Trend: Bearish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 0.58871 and 0.58563 and has sustained below that. As of now the pair has broken and retested a minor level of 0.58363 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 0.58261

TP @ 0.58136

Stop Loss @ 0.58386

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

One comment

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