AUD/CHF Potential Downward Movement

AUD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.59250, 0.59403, 0.60110

Key Support Levels: 0.59012, 0.58953, 0.58800

4-Hour Chart:

The price on the higher time frame has been in a downtrend recently after it tested a resistance level of 0.60069 and reversed back. The pair has continued to break a few support levels which suggests further trend continuation.

AUD/CHF Medium-Term Trend: Bearish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 0.60110 and 0.59403 and has sustained below that. As of now the pair has broken and retested a minor level of 0.59250 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 0.59159

TP @ 0.59045

Stop Loss @ 0.59273

Trade Safely 🙂