This is the chart i'd prefer to look at in the coming days/weeks for AUDCHF. There is a possible risk to the downside as of now as shown by the rising wedge pattern. There is a strong confluence of the rising wedge target + the peak of the channel + the channel's lower support line itself, which gives the conviction that 0.81 region could be a prime level to go long on AUDCHF.
However, rather than setting up a blind entry at these levels, would prefer to watch how price action unfolds. Of course, price could just ignore everything and hit the target of 0.85471 which could invalidate the whole set up. So let's see how price will play out.
However, rather than setting up a blind entry at these levels, would prefer to watch how price action unfolds. Of course, price could just ignore everything and hit the target of 0.85471 which could invalidate the whole set up. So let's see how price will play out.