Analyzing AUD/CHF on the 4H timeframe, we can spot a falling wedge formation inside a bigger descending continuation pattern, hence the gravity is now to the upside. Additionally, the price broke the falling wedge and is currently retesting it making it a great buy opportunity for a long-term trade.
Our first target for this trade is 0.6669. Breaking above this area will push the price towards the beginning of the falling wedge at 0.67005 which is also the upper band of the bigger descending. If the price breaks above the bigger descending, AUD/CHF may experience a continuation for more upside towards retesting previous highs like 0.6729, 0.6747, and 0.6781 (100% Fibonacci Extension ).
Our first target for this trade is 0.6669. Breaking above this area will push the price towards the beginning of the falling wedge at 0.67005 which is also the upper band of the bigger descending. If the price breaks above the bigger descending, AUD/CHF may experience a continuation for more upside towards retesting previous highs like 0.6729, 0.6747, and 0.6781 (100% Fibonacci Extension ).