It was easy to spot resistance this morning on GBPCHF on the 4 hour chart and we are seeing what could be the formation of an ascending triangle.
Additionally, if we zoom out on the daily chart we see that the current price of 1.217 is a key level and if we look at post-COVID Fibonacci we see that we are at the 61.8% level.
If we take the plunge, we have a long way to go.
If we break below, pay attention to the support, but we have some good opportunities here anyway.
Last week we looked at the NZDUSD on the weekly chart and as we thought the price broke the resistance of almost 2 years ago and is at a key level of 4 years ago.
We continue to watch silver on the daily chart and the price action is consolidating, but the short term bearish action could see the price move down to support at around $ 22.70.
Additionally, we can see Fibonacci support near the same price at the 38.2% level.
We saw the weakness of the Swiss franc earlier and looking at the AUDCHF we see this ascending triangle and the price action at resistance.
If we zoom out on the daily chart we see resistance from June of this year so we may have some leeway if you are a long AUDCHF.
