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AUD/CHF Potential Upward Movement

AUD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.68014, 0.68443, 0.68998.

Key Support Levels: 0.67503, 0.67179, 0.67170.

Daily Chart:

The price on the higher time frame found buyers around the 0.67179 CHF mark which was showed by a hammer bar. This led to an end of the pull back and a continuation of the main trend to the upside is expected in the coming hours.

AUD/CHF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair succeeded to break the bearish channel to the upside with the help of a double bottom formation. We expect a lower correction to the 0.67503 CHF mark before a new impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 0.67515

TP 1 @ 0.67992

TP 2 @ 0.68199

Stop Loss @ 0.67335

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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