AUDCHF.... Is it Time for the Fall?
AUDCHF looks ready to fall with
1. Price reaching the 0.618 fib area
2. Price is at a long term support zone turned into a resistance zone
3. RSI within overbought levels in W1, D1, H4 and H1 charts
Looking at selling now on H1 with SL above 0.785 price area and TP levels at 0.749, 0.727 and 0.7. This is a long term trade so trade management and lot size should be carefully considered.
If price breaks out of the resistance zone, I will look for retest of the zone, and then look to long the pair.
Trade with care.
1. Price reaching the 0.618 fib area
2. Price is at a long term support zone turned into a resistance zone
3. RSI within overbought levels in W1, D1, H4 and H1 charts
Looking at selling now on H1 with SL above 0.785 price area and TP levels at 0.749, 0.727 and 0.7. This is a long term trade so trade management and lot size should be carefully considered.
If price breaks out of the resistance zone, I will look for retest of the zone, and then look to long the pair.
Trade with care.