Technicals

Add as a preferred source on Google

FxWirePro: AUD/CHF forms Bearish Bat Pattern, good to sell on rallies

Harmonic pattern formed- Bearish Bat pattern. Potential Reversal Zone (PRZ) – 0.75005. The pair has formed Bearish Bat pattern in daily chart and any further bullishness can be seen only above Potential Reversal Zone (PR…

1 min read
FxWirePro: AUD/CHF forms Bearish Bat Pattern, good to sell on rallies
Image from the original EconoTimes article

Read the original article

  • Harmonic pattern formed- Bearish Bat pattern.
     
  • Potential Reversal Zone (PRZ) – 0.75005.
     
  • The pair has formed Bearish Bat pattern in daily chart and any further bullishness can be seen only above Potential Reversal Zone (PRZ).
    ​
  • Any break above 0.7500 will take the pair to next level till  0.7570/0.75976 level.
     
  • On the lower side, support stands at 0.7461 (9- day MA) and any break below targets 0.7419 (200- HMA)/0.7400.

It is good to sell on rallies around 0.7480 with SL around 0.7510 for the TP of 0.7418.

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560