Hitting Resistance and Reversing – AUDCHF August 14th 2019

Australian Dollar/Swiss Franc FX:AUDCHF

Kaetea_Ng

Hello traders,
The AUDCHF has been ranging for several days. Price is contained between the S&R-range 0.65348 and 0.66449.

We see a rejection pattern at the resistance 0.66449 and now we are looking for a short setup on this pair.

Ideally, set the Stop-Loss above the resistance 0.66449 and the Profit Target at 0.65348 as shown in the chart.

Also note, that we have a demand zone in the middle of a range, which is marked green. There, we might see a correction before our trade hits our target.

I wish you all a great trading day!

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