Trade Idea.
AUDCHF is stuck in a small range below a short-term downside resistance line. For now, we will stay calm and wait for a clear break through one of the highlighted areas before examining a further directional move, at least for a shortwhile.
If the pair breaks through the lower side of that range, this may open the door towards the lows of 2015 (the low of 2015 varies. Please check the low on your trading platform).
If the pair pushes through the upper side of the range, we would ideally like to see a break of the downside line, before getting comfortable with higher areas.
Please see the chart for details.
Don't forget your stop-loss.
AUDCHF is stuck in a small range below a short-term downside resistance line. For now, we will stay calm and wait for a clear break through one of the highlighted areas before examining a further directional move, at least for a shortwhile.
If the pair breaks through the lower side of that range, this may open the door towards the lows of 2015 (the low of 2015 varies. Please check the low on your trading platform).
If the pair pushes through the upper side of the range, we would ideally like to see a break of the downside line, before getting comfortable with higher areas.
Please see the chart for details.
Don't forget your stop-loss.
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