FX.co ★ AUD/CHF [10]

On the 30-minute timeframe for the AUD/CHF currency pair, the price has broken through the local resistance at 0.5608 and continues to move north. The breakout of this level indicates strengthening buyers and confirms the development of a short-term bullish scenario. The former resistance zone can now act as the nearest support in the event of a corrective pullback. If buyers maintain the current initiative and the price continues to hold above the 0.5608 level, further upward movement toward the resistance line at 0.5661 is expected. In this area, profit-taking and a reaction from sellers are possible. As long as the broken level is not lost, the priority remains with the continuation of the upward movement.