Beware of the level that the the Aud Chf has made it to today this level has seen 2 major drops from break of this price.
My trade decision is short based on it being a test of recent resistance and there is lots of indecision on smaller time frames.
Possible selling opportunities on AUDCHF as it look to re visit highs last reached on 2015-03.02.
I be looking for some candle confirmations around the D area (ABCD).
If entered i'll be looking to target the 38.2 and 61.8 of AD (TP1 & TP2 respectively).
Just my view...
FX:AUDCHF
Forget the tutti-frutti's and forget the yellow surfers, you want advanced patterns.
Bearish Shark formation between the 161<>224 with Divergence.
Safe Trades
Audchf trading around 0.7585 level where on daily chart we can see Its strongly Rejecting 76 level and also strong supply zone we can see around 0.7650 level
Advice to sell in range of 0.7585-0.7630 sl above 0.7670 TP1 0.7480 TP2 0.72
Audchf trading around 0.7530 level Where we can see strong supply zone above 0.76.
Simply Trade sell advice from cmp 0.7530 also set pending order around .760 both trade sl set above 0.7660 tp1 0.7390 tp2 0.7300
A break of the 50ema could open up the high side and retest the .7590 zone which would act as the upper parallel for the channel. If it fails to break above the 50 we have another trend line which would act as the upper parallel and push price back down to the .75 zone to create a new low.
Audchf forming Shark pattern on H4 we can see and also on daily charts its seems strong Resistance above 0.7670 level
Advice to sell in range of 0.76-0.7650 sl above 0.7680 TP 0.7450
