61.8-78.6% Correction Zone on AUD/CHF

divergence-usdcad

Last week, the AUD/CHF currency pair held a local resistance level of 0.68400, which caused a correction movement. The trading instrument has updated local lows. At the moment, the AUD/CHF quotes are consolidating near 61.8-78.6% correction zone. The AUD/CHF currency pair has the potential for further correction after a continuous rally. The round level of 0.68000 is the key support. We recommend paying attention to this situation.

If the price fixes below 0.68000, the AUD/CHF sales should be considered. The immediate goal for profit-taking is 0.67750. The movement is tending to 0.67500-0.67250. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.09.16

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
How to learn forex trading in Kenya
Find out more about the advantages of trading in the forex market and the ways you can feel comfortable and confident as a novice trader. Start forex trading in Kenya and get to the desired top.
Read more