AUD/CHF Potential Downward Movement

AUD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.6229, 0.6240, 0.6270

Key Support Levels: 0.6205, 0.6185, 0.6153

1-Hour Chart:

The price on the higher time frame has recently been in a downtrend recently after the break of a major level of 0.6294 The pair has continued the bearish momentum and recently broke other levels which suggests trend continuation. 

AUD/CHF Medium-Term Trend: Bearish

5-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a major level of 0.6270 with good momentum and sustained below that. As of now the pair has broken and retested a minor level of 0.6229 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 0.6217

TP @ 0.6190

Stop Loss @ 0.6235

Trade Safely 🙂