AUDCHF – Key Role Reversal Level Holding For Now | Oct 25

My current active open positions: ​NZDUSD, Silver, USDCHF, AUDUSD (option), $Sber

AUDCHF – Holding Above Role Reversal Level For Now (daily chart)
After 3 failures at the key role reversal level around 7535, the AUDCHF has been holding for over a week above the level. In fact the price action hit the role reversal level and held without any confirmation price action signal.

For now this means ST the bias is bullish while above this level on a daily closing basis. There is still resistance ahead near 7725 which I’m expecting some offers to be parked there. Clearing this will really open up the topside technicals. However a rejection here would put 7535 back into focus.

audchf role reversal level 2ndskiesforex

 

 

 

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article