AUD/CHF Channel Breakout: Long Opportunity on the Horizon
In the AUD/CHF pair, we’ve seen a decisive break and close above the descending channel. On the weekly chart, a long-tailed candle has formed, signaling a robust rebound from the key support level. The market has consistently honored the 0.5600 psychological barrier, bouncing off it several times. With the bullish momentum gathered this week, I anticipate further upward movement. This could indicate either a potential trend reversal or a continuation of the current bullish trend, especially if the market sustains its position above the support. My target is the resistance zone around 0.58400.
Traders, if you found this idea helpful or have your own insights to share, feel free to drop a comment. I’d love to hear your thoughts!
Traders, if you found this idea helpful or have your own insights to share, feel free to drop a comment. I’d love to hear your thoughts!
Trade closed: target reached
target reached see you in the next analysis.
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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.