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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 🙂

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.

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