The daily chart of pair AUD/CHF indicates definitely ruling trend, which from the beginning of the year is characterized by a great dynamism. After reaching a new peak began a correction. If the drop would have a similar range to the previous correction than return to the trend can be expected in a wide area of support based on series of earlier highs.
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On H4 chart we see that the chance to bounce up may occur sooner than from the support on the daily chart. Price is already close to the line of this year’s trend. In this area we also have local support in form of last two lows. Just like last time, well-respected is correction line. So it seems that this pair is in an interesting position and breaking the correction gives a chance to search for a trade close to the trend line.
