AUD/CHF Long-Term Trend: Bullish
Key Resistance Levels: 0.69094, 0.69702, 0.70000.
Key Support Levels: 0.68057, 0.67404, 0.67089.
The price on the higher time frame posted an inverse head and shoulders which led to a change in the direction of the main trend from a downward movement to an upward one. The market managed to break the trend line resistance to the upside and retraced to the key support level. we expect a new impulsive wave to the upside in the coming hours.
AUD/CHF Medium-Term Trend: Bullish
On the lower time frame, the pair showed higher highs and lows and now it is traded inside a bullish flag formation. It found buyers around the 50% Fibonacci retracement level where a lower correction to the 0.68000 CHF mark could be seen before a new impulsive wave toward the target profits.
Buy Limit Order @ 0.68114
TP 1 @ 0.69094
TP 2 @ 0.69702
Stop Loss @ 0.67623
Trade Safely 🙂
What a solid play this was! Nice eye on the inverse head and shoulders!