AUD/CHF Potential Downward Movement

AUD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.6546, 0.6573, 0.6649

Key Support Levels: 0.6469, 0.6412, 0.6369

Daily Chart:

The price on the higher time frame has been in a downtrend for quite some time and recently it consolidated between a range of 0.6722 and 0.6587 after showing good bearish momentum. The pair has now broken the lower range and sustained below that which indicates 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. The price has recently been trading in a small range of 0.6573 and 0.6546 and now the lower range has been broken. It is now continuing the momentum after retesting the 0.6546 level. 

Signal Idea:

Sell Stop Order @ 0.6529

TP 1 @ 0.6480

TP 2 @ 0.6431

Stop Loss @ 0.6578

Trade Safely 🙂