While the majors decide if they are moving up or down from their respective levels, the AUD/CHF has pulled back down to a support level while in an uptrend.
While the majors decide if they are moving up or down from their respective levels, the AUD/CHF has pulled back down to a support level while in an uptrend. That is the definition of a buying opportunity and we can see that this pair has experienced a slight bounce up off of the recent low. Traders could use any number of approaches to identify their entry with one being to buy on a crossover of the MACD which is posted on the chart. Traders should then place their protective sell stop below the low with profit targets set at twice that risk for a 1:2 risk:reward ratio.
