AUD/CHF Long-Term Trend: Bearish
Key Resistance Levels: 0.58363, 0.58563, 0.58871
Key Support Levels: 0.58103, 0.57810, 0.57539
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
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.
Sell Stop Order @ 0.58261
TP @ 0.58136
Stop Loss @ 0.58386
Trade Safely 🙂