61.8-78.6% Correction Zone on AUD/CHF

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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 JustMarkets 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.

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