AUD/CHF Long-Term Trend: Bullish
Key Resistance Levels: 0.68352, 0.68567, 0.68825.
Key Support Levels: 0.67872, 0.67610, 0.66650.
The price on the higher time frame managed to break the bearish channel to the upside after posting an engulfing bullish pattern near the strong support level which led to a reversal and a move to the upside. This shows that the buyers are in clear control of the market.
AUD/CHF Medium-Term Trend: Bullish
On the lower time frame, the price found buyers around the 61.80% Fibonacci retracement level which led to the breakout of the bullish flag pattern to the upside. We expect the market to continue its movement to the upside toward the next key resistance level.
Buy Stop Order @ 0.67901
TP 1 @ 0.68329
TP 2 @ 0.68567
Stop Loss @ 0.67681
Trade Safely 🙂