Currency pair: AUD/CHF Spot
Currently, attractive trends can be seen in the AUDCHF, and these can be used for trading. Paired with further targets in the chart, this results in an absolute watchlist candidate, which should remain under observation. In this technical analysis, we will expand on this currency pair.
Downward trend and attractive targets
In the daily chart, the downward trend can be easily recognized. It is now far into the correction and forming attractive targets. Three partial sale zones for profit-taking can be seen in the larger image at once, and in the subordinate picture, a trend reversal is already emerging in our envisaged direction.
Trend reversal on the hour?
The current correction is already showing the first signs of making an about-turn. We do not yet have a crystal clear signal, which is why we would wish for a scenario such as the one drawn in. Since we have lots of space down to the first target below, we can also alternatively wait for a second signal. Before making an entry, one should take the news into account. In addition, one should observe the overall market as well as the actions of the central banks.
Possible trading parameters
Entry: depending on the formation of the hourly trend, between 0.73000 – 0.74000
Stop: depending on the formation of the hourly trend, at the last high
Target: target zones at 0.71550, 0.70800 and 0.68500
Neither the author nor our company is invested in the securities and underlyings discussed at the time of publishing this analysis.
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