Happy Friday, dear traders, Today we come with AUDCHF market Technical analysis. So, without wasting time dive into the analysis.
AUDCHF Technical Analysis for last trading session of this week by Guriforex:
The AUDCHF currency pair is currently exhibiting a strong bullish trend on the 4-hour time frame. 🚀📈
After experiencing an extended bullish wave, the pair entered a period of consolidation, moving within a horizontal range. This consolidation phase indicated that the market was taking a breather before deciding on its next move.
Yesterday, something significant happened – the resistance level of this consolidation range was broken. 🔥 This breakout is a crucial indicator of the buyers’ strength and suggests that the bullish momentum is far from over.
📊 What does this mean? The breakout above the resistance level is a strong signal that the bulls are still in control, and the market is likely to continue its upward movement. Based on our analysis, we anticipate that the AUDCHF pair could soon reach the 0.58 level.
The market’s current behavior shows that the buyers are not backing down and are pushing the pair higher. This continued growth is a positive sign for those holding long positions on AUDCHF.
🔍 Key Levels to Watch
- Support Level: Watch for any potential pullbacks to the previous resistance level, which could now act as support.
- Target Level: We expect the market to head towards the 0.58 level, where we might see some profit-taking or further consolidation.
The current market dynamics suggest that the bulls have the upper hand, but it’s always important to stay vigilant for any changes in the trend. Markets can be unpredictable, so monitoring key levels and staying informed is crucial.
Do you think the AUDCHF will continue its bullish trend, or are we due for a reversal? Share your thoughts and predictions in the comments below!👇
Remember, your insights and opinions can help others in the trading community make informed decisions. So don’t hesitate to share your analysis and join the conversation! 💬
Happy trading! 📊💼