AUD/CHF Potential Downward Movement

AUD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.59773, 0.60137, 0.60498

Key Support Levels: 0.59507, 0.59200, 0.58798

4-Hour Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at the 0.61110 level and reversed the direction. The pair has broken a few 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 0.60498 and 0.60137 and has sustained below that. As of now the pair has broken and retested a minor level of 0.59773 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 0.59679

TP @ 0.59547

Stop Loss @ 0.59811

Trade Safely 🙂