AUDCHF Completing The Deep Correction?
I think the AUDCHF is slowly completing its correction and is about to resume the uptrend. I find it likely to bounce off of two warning lines at the greenish support level that marks roughly the half of the completed May impulse wave. The AUD is clearly oversold, but I don't find it weak; rather neutral. The CHF is relatively overbought, but its relative strength is still at its lows - actually, I find no currency as strong as the Swiss franc is weak. I don't expect this pair to go to new highs though; rather - retrace up to the multipivot level 0.83250. I think the lows of the 9th May should provide a solid protection for a stop loss.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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