AUD/CHF closed higher

AUD/CHF closed higher

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).

AUDCHF.png

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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