AUDCHF

Afternoon Dynamic Traders

Just a quick update on the AUDCHF. As you can see from the chart below, yesterday's price hit the resistance level, sellers then got involved in the action and pulled price down. But then buyers fought back closing yesterday's candle with a long wick. Although the candle is a signal for indecision, buyers did in fact pull the price back up - strengthening the odds for a continuation with the uptrend. MACD is also showing good momentum. Of course we still need that all important confirmation - yes confluences suggest the trend may continue, but will buyers break the R level and continue the rally?
















Great trading!
Sonia Molina