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

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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

 

 

 

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