Market Instrument: AUDCHF
Timeframe: D1
Analysis: Technical
Structure: Support and Descending Channel Breakout
Prediction: Bullish
On the descending channel formed we can see that the price has gone on the breakout and now moving on a pullback towards the key support highlighted. If the price is willing to respect this level we may see a possible reversal with strong bullish momentum to the upside where I expect the price can revisit the 0.6917 area. Here we need to watch closely inside the circled area to spot any opportunities where we can look towards the expected target.
Timeframe: D1
Analysis: Technical
Structure: Support and Descending Channel Breakout
Prediction: Bullish
On the descending channel formed we can see that the price has gone on the breakout and now moving on a pullback towards the key support highlighted. If the price is willing to respect this level we may see a possible reversal with strong bullish momentum to the upside where I expect the price can revisit the 0.6917 area. Here we need to watch closely inside the circled area to spot any opportunities where we can look towards the expected target.