AUD/CHF Long-Term Trend: Bearish
Key Resistance Levels: 0.6259, 0.6327, 0.6372
Key Support Levels: 0.6179, 0.6105, 0.6069
The price on the higher time frame has been in a downtrend for some time and recently it did a pullback. The pair faced resistance at the 0.6510 level and reversed from there. It has now broken a minor level of 0.6305 which indicates a bearish bias.
AUD/CHF Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price has recently broken a consolidation zone of 0.6372 and 0.6327 and sustained below that. It has now also broken and retested a minor level of 0.6259 before continuing the momentum.
Sell Stop Order @ 0.6227
TP 1 @ 0.6185
TP 2 @ 0.6122
Stop Loss @ 0.6269
Trade Safely 🙂