AUD/CHF Long-Term Trend: Bullish
Key Resistance Levels: 0.68038, 0.69095, 0.69718
Key Support Levels: 0.67157, 0.66513, 0.65126.
The price on the higher time frame failed to break a strong support level around the 0.65126 CHF mark and posted a bullish engulfing pattern which led to a reversal and a move higher. The market is posting higher highs and lows and succeeded to break the bearish channel and the daily resistance around the 0.67157 CHF level which could lead to a further movement to the upside.
AUD/CHF Medium-Term Trend: Bullish
On the lower time frame, the price is clearly in uptrend where higher highs and lows have been posted. The price left a correction count below the highlighted zone and move upward. A lower correction or retracement to this area could be seen before a new impulsive wave to the upside.
Buy Limit Order @ 0.67515
TP 1 @ 0.68028
TP 2 @ 0.69095
Stop Loss @ 0.67328
Trade Safely 🙂