AUD/CHF Potential Downward Movement

AUD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.6201, 0.6262, 0.6302

Key Support Levels: 0.6101, 0.6045, 0.5989

Daily Chart:

The price on the higher time frame has been in a downtrend for the last few months. The pair was recently trading in a range of 0.6436 and 0.6303 which has been broken and it is showing signs of 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 consolidated for some time between a range of 0.6353 and 0.6301 which has been broken. As of now the pair has broken another minor level of 0.6201 before continuing the momentum. 

Signal Idea:

Sell Stop Order @ 0.6160

TP 1 @ 0.6109

TP 2 @ 0.6032

Stop Loss @ 0.6211

Trade Safely 🙂