AUDCHF Setup H1 - Is It short?

11 Mei 2023

On AUDCHF, the Forex48 strategy has identified a supply zone at 0.6030, where a setup for a short trade has formed. Currently, we have a weak AUD, but it could recover and potentially bounce back to the mentioned zone overnight after the news. However, I predict a decline with the strengthening of the Swiss Franc, which is traditionally a safe haven currency, given the weak strength of the dollar in this historical period.

Let me know what you think.

Happy trading to everyone.

Forex48 Trading Academy