AUDCHF 5 Sep 2023 on the H1 timeframe. It can be seen that the pair is experiencing a sharp bullish trend. It went down from 0.57057 to 0.56872. This pair fell from the 61.8 Fibo level and continued to break through until it touched the 23.6 Fibo level. Located between S1 and S2, this pair seems to be experiencing a trend reversal again when it touches S2. this is also reinforced by the stochastic indicator, which looks oversold. Therefore a go-long position could be an option for scalpers. However, if the pair is unable to reverse the trend and drops through S2 then go-short is an option. Pay attention to market movements and Trade with your own risk
