AUD/CHF Price Analysis: Bears running risk-free towards target

AUD/CHF moved lower following risk-off flows that pushed towards the target.
Bears may need to wear some risk-free pain to resistance before next surge to the downside.

Ross J Burland FXStreet

As per yesterday's analysis, this trade setup is running in profit and risk-free on the way to the target.

The pair has met a support level which is expected to hold and trigger a run back to test critical resistance.

Prior analysis

AUD/CHF Price Analysis: Bears waiting for bearish confirmations for 1:3 R/R setup

MACD crossed the zero-line which triggered the entry for the 1:3 risk to reward.

A stop-loss moved to the entry price as soon as a new structure formed since entry allows the setup to run risk-free towards the target.

Current market and structure

As illustrated, the price is meeting support and could be due a healthy correction back to test the new resistance that is now protecting the entry-level.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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