Possible Short Opportunity for AUDCHF

12 mag 2020

The pair has recently seemed to break out of the channel it has been in for quite a while. I will wait for the break of the horizontal support to confirm the breakout. Thereafter, i will enter a short position on the pullback. It is important to note that while the channel has just been broken on the 1H timeframe, it has not yet break out of the horizontal support. There is still a chance that the price can go back into the channel. If that happens, traders can look for opportunity to long the pair to the top of the identified channel