AUDCHF On the verge of a break-out

The AUDCHF pair seems to be repeating the October 2021 - January 2022 fractal both on candle and RSI terms on the 1D time-frame (both recording a -7.50% decline). The price has been closing below the 1D MA50 (blue trend-line) since June 15. A break above the 1D MA200 (orange trend-line) would be a bullish break-out signal, targeting the Lower Highs trend-line and (under conditions that we will analyze when the time comes), the 1.236 Fibonacci extension.

On the other hand, a break below 0.6500 (just below the July 01 low), would be a bearish break-out signal towards the 2.0 Fib lower extension (0.63000).



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