AUD/CHF:
AUD/CHF D1 chart is in a downtrend. At this stage, the price is currently moving sideways due to the sharp decline in the previous price. At present, the price has touched the lower support level, and it is difficult for the price to break through the strong support level below in a short time. The trend will continue to decline unless the price breaks below 0.65737 within the week.
The same is true for the H4 chart where the price is in a consolidation phase. A morning star pattern was also formed on the previous candle, indicating a high probability of price reversal. In terms of MACD indicators, we can also see that the bearish trend has also gradually subsided.
Order suggestion:
In the consolidation range, you can choose to buy low and sell high. A major trend can wait for resistance or support to be broken before entering.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
