EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
AUD/CHF: levels to trade
Information is not investment advice
AUD/CHF formed a higher low on the H1. The pair may be forming something like a “Crab” harmonic pattern. It has support around 0.6543 and may rise to the area between 0.6572 and 0.6582, where it will meet resistance (100-period MA on the H4, the line connecting January 29 and February highs). From that point, the possibility of a correction to the downside will be high.
At the same time, if the market sentiment improves and AUD/CHF breaks above 0.6592, an inverted “Head and Shoulders” pattern will form and the price will head towards 0.6678 (50% retracement of the December-February decline) and 0.6655 (200-period MA).
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.
The GBP made strong moves against the US dollar and the EUR lately. What's the tactical outlook?
Fresh news of the US session