goldtradingexpert

AUD/CHF Buy Opportunity Breaking Above 0.6870

Long
FX:AUDCHF   Australian Dollar / Swiss Franc
6th of October AUD/CHF broke the long-term descending trendline and started an uptrend. AUD/CHF is holding above the descending trendline and forming a bullish pattern . Right now, AUD/CHF is stuck into a triangle. Breaking above 0.6870 will confirm the bullish breakout and triangle.

The first target to the upside is 0.6960/6970, Price Zone.
Breaking above 0.6970, our 2nd target is 71.00.
Finally, 0.7200/0.7220 is our upside target zone.

We may see a significant correction from the 0.7220/0.7250 price zone.

This chart is valid as long as AUD/CHF is above 0.6650. In case AUD/CHF breaks below 0.6650, it will continue its downtrend again.