FXTM

AUDCHF is surging to higher levels

Long
OANDA:AUDCHF   Australian Dollar / Swiss Franc
The AUDCHF currency pair on the 4 Hours Chart has been in an uptrend since 14 November 2019 when it registered the low price at 0.66884. Subsequently, the price displayed a series of higher tops and higher bottoms. On 19 November 2019, the AUDCHF currency pair recorded the high price of 0.67747. When applying Oscillator Analysis to the price chart, one can see that price is trading below the SMA 60 period Moving Average line, a fact which confirms the AUDCHF currency pair's downward direction. Furthermore, the MACD (Moving Average/Convergence Divergence) Oscillator is recording values below the zero line which hints to the bearish bias of financial instrument. Additionally, the RSI (Relative Strength Index) Oscillator registers values above the fifty line which indicates positive sentiment. The three technical indicators display mixed signals about the direction of the financial instrument. Three price targets may be calculated upon applying the Fibonacci tool to the price chart. The first price target is estimated at 0.67831 (161.8%). The second price target is seen at 0.68323 (261.8%). The third price target is projected at 0.69119 (423.6%). The AUDCHF currency pair is currently trading above the uptrend line. Of course, supply and demand as well as the crowd sentiment will determine the course of AUDCHF currency pair.

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