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.
How to trade USD/CHF?
Information is not investment advice
USD/CHF has made an impressive movement to the downside. The pair has closed on Wednesday below the 61.8% Fibonacci retracement in the 0.9455 area. The next Fibo level lies at 0.9340. On the W1 and the D1, there’s potential for further downside. On the H4, the pair looks a bit oversold, so that bull may initiate a correction. Resistance will lie at 0.9455 and 0.9500.
Trade ideas for USD/CHF
SELL 0.9390; TP 0.9340; SL 0.9405
BUY 0.9465; TP 0.9500; SL 0.9445
The pair is testing the key pivot level at 74.40
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