AUDCHF Bottom of Channel Up. Buy opportunity.

6 Haz

The AUDCHF pair gave us a solid sell signal last time (April 05, see chart below) but then broke above and established a Channel Up:

The price is now at the bottom (Higher Lows trend-line) of that Channel Up, below the 1D MA50 (blue trend-line), calling for a short-term buy amidst the start of the next Bullish Leg. On top of that, the RSI is approaching its 1-year Support Zone, which every time it was touched, the price rallied by at least +4.50%.

As a result, we remain bullish as long as the 1D MA200 (orange trend-line) is intact and attempt a first buy now, targeting 0.61750 (+4.50%).

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