AUD/CHF Potential Downward Movement

AUD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.57405, 0.57767, 0.58286

Key Support Levels: 0.57005, 0.56801, 0.56368

Daily Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at the 0.60451 level and reversed the direction. The pair has continued to break a few levels which suggests further trend continuation.

AUD/CHF Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 0.58286 and 0.57767 and has sustained below that. As of now the pair has broken and retested a minor level of 0.57405 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 0.57259

TP @ 0.57020

Stop Loss @ 0.57498

Trade Safely 🙂