AUD/CHF closed higher
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Trade idea
BUY 0.6800; TP 0.6860; SL 0.6780
On Monday, AUD/CHF broke above the line connecting April and July highs at 0.6785 and managed to close the day above it. The move happened as the market’s risk sentiment improved. In the short-term, the Aussie met resistance at 0.6820. Still, the positive setup we see in Moving Averages on H4 and H1 allows us to believe that the bearish correction will only be temporary and the pair will ultimately reach 0.6860 on the upside (78.6% Fibo of the July-August decline; 100-day MA). The return below 0.6775 will open the way down to 0.6750 (50-day MA).
