AUD/CHF may be finished with a slide, as the pair forms a double bottom that looks ready to run.
Do you think we will see a big rally soon?
Better keep your eyes on these levels if you hope to get a higher break!
AUD/CHF for 4 hours Planned by TV
As you can see from the above chart, this forex pair made two failed attempts to break below the 0.5875 area.
AUD/CHF is now testing resistance just above the key psychological level of 0.6000, and a break above this neckline would confirm that a rally is imminent.
In this case, the price can go up almost as high as the chart pattern.
That would be 150 points yo!
Just be careful because stochastic is already signaling overbought or overexhausted conditions among buyers. A shift lower would confirm a return of sellers, which could send AUD/CHF back to previous lows.
Also, the 100 SMA is still below the 200 SMA to confirm the presence of bearish sentiment. Then again, the pair managed to climb above the 200 SMA dynamic inflection point as a Ferry An early signal of a change in trend.
Don’t forget to check out Average daily fluctuations for the Australian dollar / Swiss franc When specifying the entrances and exits!