- AUD/CHF moved lower following risk-off flows that pushed towards the target.
- Bears may need to wear some risk-free pain to resistance before next surge to the downside.
As per yesterday’s analysis, this trade setup is running in profit and risk-free on the way to the target.
The pair has met a support level which is expected to hold and trigger a run back to test critical resistance.
Prior analysis
- AUD/CHF Price Analysis: Bears waiting for bearish confirmations for 1:3 R/R setup
MACD crossed the zero-line which triggered the entry for the 1:3 risk to reward.
A stop-loss moved to the entry price as soon as a new structure formed since entry allows the setup to run risk-free towards the target.
Current market and structure
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As illustrated, the price is meeting support and could be due a healthy correction back to test the new resistance that is now protecting the entry-level.
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