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AUD/CHF Potential Upward Movement

AUD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.68046, 0.68517, 0.68980

Key Support Levels: 0.67844, 0.67170, 0.67000

Daily Chart:

The price on the higher time frame succeeded to break the bearish channel formation to the upside after finding a huge number of buyers around the 0.66498 USD mark. The market reversed and moved upward by posting higher highs and lows.

AUD/CHF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price managed to break the bearish channel to the upside after finding support around the 0.67844 USD mark. We expect a lower correction to this area before a new wave to the upside in the same direction of the main trend.

Signal Idea:

Buy Limit Order @ 0.67848

TP 1 @ 0.68040

TP 2 @ 0.68517

Stop Loss @ 0.67785

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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