AUDCHF LONG
Current Trend :
The AUD/CHF pair is showing a bullish trend with a recent breakout from a descending trendline. The current price is 0.60499, just above the 200-period simple moving average (SMA) at 0.59995.
Support and Resistance Levels :
Major Support: 0.60309, 0.60279
Major Resistance: 0.60531, 0.60766
Fibonacci :
Key Fibonacci retracement levels are drawn from the recent low to the high:
38.2%: 0.60385
50.0%: 0.60309
61.8%: 0.60279
The breakout of the descending trendline indicates a potential bullish reversal. Confirmation of this breakout, coupled with a rebound above the SMA 200 level, reinforces the idea of a bullish continuation. The Fibonacci levels provide reference points for placing Stop Loss and Take Profit orders, minimizing risk while maximizing potential gain.
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