AUDCHF making a double top at Resistance area
Updated
AUDCHF has successfully broken out of the range zone and formed a double top at the resistance level. On the daily timeframe, the market is clearly in a bearish trend, having retraced around 50%. The price is now heading toward the support level and could continue lower, potentially breaking through the upward channel on the 1H timeframe. A further decline is possible, with at least a retest of last week's high. The target is the support level at 0.57130.
Trade closed: target reached
The price took a bit longer then expected but it produced the drop. Because of the delay, now there is a posibility for it to rebounce up. You can secure the profit if you wish
Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.