Major Support zone HIT!

FX:AUDCHF   Australian Dollar / Swiss Franc
AUDCHF price has bounced from the major support zone highlighted by the pink rectangle . It has also been travelling in a descending channel . We believe price will now make its way up to the zone shown above (0.70500), price has made a Higher High on the 4H chart, it will now move up, break above the descending channel , come back down to retest the channel like shown above before starting a bullish rally.