AUD/CHF Long-Term Trend: Bearish
Key Resistance Levels: 0.6801, 0.6895, 0.6900
Key Support Levels: 0.6712, 0.6652, 0.6600
The price on the higher time frame is in a clear downward movement where it is posting lower lows and highs. It succeeded to break a strong support (now resistance) around the 0.6801 USD mark where it posted a shooting star candle below. We expect further movement to the downside in the coming hours.
AUD/CHF Medium-Term Trend: Bearish
On the lower time frame, the price succeeded to break the bearish flag formation to the downside after it posted a double top near the strong resistance. This led to a move downward in the same direction of the main trend. We are waiting for the higher correction to the highlighted zone before a new move to the downside toward the target profit.
Sell Limit Order @ 0.6752
TP 1 @ 0.6713
TP 2 @ 0.6652
Stop Loss @ 0.6765
Trade Safely 🙂