AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/CHF broke strong support zone
2019-11-11 • Updated
- AUD/CHF broke strong support zone
- Next sell target - 0.7370
AUD/CHF continues to fall after the earlier sharp breakout of the strong support zone lying between the pivotal support level 0.7480 (which also reversed the previous waves 4 and (A), as can be seen below ) and the 61.8% Fibonacci correction of the previous sharp upward impulse from December. The breakout of this support accelerated the active minor impulse wave 3, which belongs to wave (C) from March.
AUD/CHF is expected to fall to the next sell target at the next support level 0.7370 (target price for the completion of the active impulse wave 3).
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...