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AUD/CHF Potential Upward Movement

AUD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.68014, 0.68201, 0.68250.

Key Support Levels: 0.67695, 0.67503, 0.67179.

Daily Chart:

The price on the higher time frame posted a hammer bar around the daily support around the 0.67179 CHF mark which led to a reversal and a move higher. The market move further to the upside which is represented by another bullish big bodied bar.

AUD/CHF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is traded inside a bullish channel formation where a lower correction could be seen toward the highlighted zone. This might lead to a move higher again in the same direction of the main trend toward the mentioned target profit.

Signal Idea:

Buy Limit Order @ 0.67706

TP 1 @ 0.68010

TP 2 @ 0.68201

Stop Loss @ 0.67554

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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