AUD/CHF Long-Term Trend: Bullish
Key Resistance Levels: 0.7227, 0.7332, 0.7425
Key Support Levels: 0.7089, 0.7026, 0.6884
The price on the higher time frame is trending to the upside by posting higher lows and highs and by respecting the white trendline. Recently, the price posted a correction count in a form of a bullish flag formation.
AUD/CHF Medium-Term Trend: Bullish
On the 4-hr time frame, the price is trading inside this bullish flag pattern where we expect a correction to the area of confluence which is made by a support and the 61.80% Fibonacci retracement level around the 0.7089 USD mark. This could lead to a move upward to the 0.7187 USD level.
Buy Limit Order @ 0.7093
TP 1 @ 0.7187
TP 2 @ 0.7227
Stop Loss @ 0.7047
Trade Safely 🙂