- July 5, 2021
- Posted by: cabana-admin
- Category: Market Insights
GENERAL OVERVIEW: AUD/CHF is trading at 0.6932; the instrument is moving below Ichimoku Cloud, thus indicating a upside tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7000 and then resume moving upside side. The market makes the high volatility in the market; the pair stands towards the upside side and creates the bearish side in the market. The pair moves towards the downside momentum in the market .we can see pair rise continually towards the higher side in the market. Another signal in favor of a further uptrend will be a rebound from the resistance level. However, the bullish scenario may no longer be valid if the price rise above till level 0.6900. The pair makes the bullish signals in the market; the traders can make potential view towards the buy side in the market.
Technical Analysis: From the technical point of view we can say that market makes the upside in the market , the market makes the swings towards the higher side in the market, the market find its resistance level at 0.7000 level , we can expect further more fall in the market, the traders can take their position towards the buy side in the market , the odds are also in favors of the bulls in market , the potential 50 and 200 sma ,ema lines are also providing their support to rise above the pairs , we can also see that last Friday market take its reverse turn in the market as the bullish candlestick are forming , so this way we can analysis that bulls side are in continuation towards the market, as the traders need to maintain their stop loss in the trade, The RSI also rise below the 50 level as well as MACD also creates also falls above zero level . The support level will be 0.6880 followed by 0.6800 and resistance will be 0.6990 followed by 0.7050.
Trade idea: our buyers will sit on the buy side at level 0.6932 target will be 0.6985 -0.7040 stop loss will be 0.6880.