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Swiss Franc/Australian Dollar

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CHFAUD trade ideas

AUDCHF - a Bat in the makingThe Aussie has moved off a triple bottom from Aug 2023 to Feb 2024. We can see an impulsive movement from 56 to 61. A chart may be seen as a recent double top or the formation of a H&S . Furthermore, a Harmonic Bat Pattern may be in play. The target is the .886 retracement of X-A , which sees price back into the prior consolidation range. Momentum is bearish as well, with RSI <50. Some support may be offered at the 200 MAV around 59. A break of this sees B point, and thereafter the projected D point. All currencies over time have withered to the Swisse, now is no different.
Short
by Umlingo
AUDCHF: Strategic Shorts Awaiting Key PullbacksTechnical Analysis: Weekly Chart: Last week's price action shows a clear shift in sentiment with a lower low and lower close, indicating potential for short positions on lower timeframes. In the long run, I believe the price is heading towards the next key area around 0.5869/61. Daily Chart: The daily price action is a bit complicated as it currently interacts with the 61% Fibonacci level. However, Friday's price action shows a clear rejection from the upside, aligning with the weekly sentiment for short positions on the lower timeframe. In the week ahead, if the price continues to decline, the next area of caution would be the 78% Fibonacci level around 0.5908. 4-Hour Chart: Combining the weekly sentiment with the daily, it seems we are well-positioned for a short position. However, we won't rush into shorts unless the price reaches a key level for a pullback. On the 4-hour chart, there are two potential entry plans: Plan 1: Since the current price action on the 4-hour chart is consolidating, we would like to see a pullback towards the top of the range and then target the bottom. Sell Limit Entry: 0.5960/62 Stop Loss: Above 0.5967 Target: 0.5934/29 Plan 2: If the price doesn't pull back to the top of the range and instead breaks through the support, we should wait for the price to come back and retest the newly turned support-turned-resistance around 0.5929. Sell Limit Entry: 0.5929/34 Stop Loss: Above 0.5940 Target(s): 0.5908, 0.5870 Fundamental Analysis: There’s not much happening with AUD except for the Flash Manufacturing PMI on Wednesday, July 24th. On the other hand, CHF remains strong due to the current de-risking theme. Hope you have a fantastic week ahead. Happy trading!
Short
by iamfotx
AUDCHF: Double Short Opportunities on Key LevelsTechnical Analysis: Weekly Chart: Last week's price action shows a clear shift in sentiment with a lower low and lower close, indicating potential for short positions on lower timeframes. In the long run, I believe the price is heading towards the next key area around 0.5869/61. Daily Chart: The daily price action is a bit complicated as it currently interacts with the 61% Fibonacci level. However, Friday's price action shows a clear rejection from the upside, aligning with the weekly sentiment for short positions on the lower timeframe. In the week ahead, if the price continues to decline, the next area of caution would be the 78% Fibonacci level around 0.5908. 4-Hour Chart: Combining the weekly sentiment with the daily, it seems we are well-positioned for a short position. However, we won't rush into shorts unless the price reaches a key level for a pullback. On the 4-hour chart, there are two potential entry plans: Plan 1: Since the current price action on the 4-hour chart is consolidating, we would like to see a pullback towards the top of the range and then target the bottom. Sell Limit Entry: 0.5960/62 Stop Loss: Above 0.5967 Target: 0.5934/29 Plan 2: If the price doesn't pull back to the top of the range and instead breaks through the support, we should wait for the price to come back and retest the newly support-turned-resistance around 0.5929. Sell Limit Entry: 0.5929/34 Stop Loss: Above 0.5940 Target(s): 0.5908, 0.5870 Fundamental Analysis: There’s not much happening with AUD except for the Flash Manufacturing PMI on Wednesday, July 24th. On the other hand, CHF remains strong due to the current de-risking theme. Hope you have a fantastic week ahead. Happy trading!
Short
by iamfotx
AUDCHF Possible BUY AreaAUDCHF completed a W FCP pattern. This made the price fall. It has fallen hard and could possible be going towards the area where we have confluence of an FCP zone and 2 trend lines. This can be a good Buy area for a possible bounce up. As always wait for the confirmation on the smaller time frame. If you found this interesting please consider supporting this analysis by liking, commenting, and sharing with friends, colleagues, traders, and trading communities. Thanks👍🙂
Long
by vikinsa
Possible trade idea for AUD/CHFSo when we look at the chart we can see that the price has broken a trendline and that we are now retesting this trendline. What I want to do here is to see and go short. We do have to wait for the opening and wait for the London session to see what the price is going to do. But for now this could be a very nice trade to take here. We also have a support zone that we can see on the chart that was respected heavy in the past so if we do see that the price is going down I will be looking at this support zone to see what it will do.
Short
by MaBaCapital2