AUD/CHF closed higher

AUD/CHF closed higher

Information is not investment advice

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

EUR/NZD has stumbled

On the W1, EUR/NZD formed a candlestick with a long upper wick - a sign that sellers are strong in the 1.76 area.

GBP/JPY: trading on Brexit

What is the best way to bet on the positive outcome of the Brexit deal? Technically, the GBP has bullish potential versus the JPY.

Popular

EUR/NZD has stumbled

On the W1, EUR/NZD formed a candlestick with a long upper wick - a sign that sellers are strong in the 1.76 area.

GBP/JPY: trading on Brexit

What is the best way to bet on the positive outcome of the Brexit deal? Technically, the GBP has bullish potential versus the JPY.

Choose your payment system