AUDCHF: Medium and long trading plan.
The pair is currently trading within a 1W Channel Up (RSI = 46.650, ADX = 20.166, Highs/Lows = 0.0000) since the August bottom on the 0.65400 Support. It is currently on the Higher Low trend line which technically is the optimal long entry towards the 0.69500 1W Resistance, which is our medium term target.
Upon reaching that level, AUDCHF would have made a Higher High on the 1W Channel Up, crossed the 1W MA50, while also making contact with the long term bearish Lower High trend line of the 1M Channel Down that started with the September 2017 Top. If that line (red bold line) breaks then the long term bullish bias are restored and you can pursue the next Resistance levels of 0.72500 and 0.74000.
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Upon reaching that level, AUDCHF would have made a Higher High on the 1W Channel Up, crossed the 1W MA50, while also making contact with the long term bearish Lower High trend line of the 1M Channel Down that started with the September 2017 Top. If that line (red bold line) breaks then the long term bullish bias are restored and you can pursue the next Resistance levels of 0.72500 and 0.74000.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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