AUDCHF Channel Up intact. This pull-back is a buy opportunity.

17 jul

The AUDCHF pair is on the 3rd straight day of a strong short-term pull-back and just touched the 1D MA50 (blue trend-line) for the first time in almost 3 weeks. The long-term bullish trend remains intact though as the dominant structure is a 7-month Channel Up.

As long as the 1D MA200 (orange trend-line) holds, we will remain bullish, targeting 0.62250 (+6.20% Bullish Leg, similar to the previous two).

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