- January 27, 2021
- Posted by: admin
- Category: forex trading
General overview: AUD/CHF pair tested on the upside momentum. Today the pair tested above the 0.6850 barriers, marked by yesterday’s high. AUD/CHF is tentative above a tentative upside support line .the pair is making the upside gain in towards the positive side. The pair is hitting the higher side of the market. Today, the pair traded in a consolidative manner, hitting 0.6858 and staying slightly below it Although, the pair is trading towards on the higher side in the market. The bulls may encourage the buyers to go for the buy-side in the market. The bulls are aggressively forcing the market to set for the bullish side towards the market. On the 30 minutes chart, we can also see that pair is creating positive patterns in the market and travel towards the north side. Currently, the pair is trading towards the 0.6858 level and expecting a rise towards the 0.6900 level.
Technical analysis: From the technical point of view we can say that market to creating the higher highs in the market. The bulls are traded in a consolidative manner, hitting 0.6857 and still trying to travel resistance level above 0.6900. On the 4 hourly chart market is making its positive side as the RSI is also above trying to cover up the buy-side in the market and MACD will also rise up above the zero lines will create buy signals in the chart. The minor line EMA is also rising above and 200 SMA is making the bullish momentum in the market. The pair is coming with the bullish technical setup this month. The buyers push the market and create their psychological move towards the buy-side. As from the whole content, we can say that market travels towards the buy-side in the market and make their profit simultaneously. The support of the pair is 0.6807 followed by 0.6757 and resistance is 0.6907 followed by 0.6957.
Trade idea: We can conclude from the above content the buyers should go for buy at level 0.6855 target will be 0.6955-0.7035 and stop loss is 0.6705.
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