FX.co ★ AUDCHF potential trend reversal

AUDCHF is seen to have a potential bullish divergence, stochastic indicator is seen to form a higher high hovering around the support level while price dropped. Potential buy entry at 0.66371 in line with 100% Fibonacci extension. Price is expected to rise to take profit level 0.66911 in line with 38.2% Fibonacci retracement. Our bullish bias is further being supported by the appearance of the golden crossover and appearance of the three white soldiers candle pattern.

Trading Recommendation

Entry:0.66371

Reason for Entry:

100% Fibonacci extension

Take Profit: 0.66911

Reason for Take Profit:

38.2% Fibonacci retracement

Stop Loss: 0.65910

Reason for Stop Loss:

127.2% Fibonacci retracement and extension