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AUD/CHF Potential Downward Movement

AUD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.6259, 0.6327, 0.6372

Key Support Levels: 0.6179, 0.6105, 0.6069

Daily Chart:

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

1-Hour Chart:

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.

Signal Idea:

Sell Stop Order @ 0.6227

TP 1 @ 0.6185

TP 2 @ 0.6122

Stop Loss @ 0.6269

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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