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AUD/CHF Buy on a Dip Trade Idea

AUD/CHF is retreating from a rising channel resistance. Seeing that the pair has shifted from bearish to bullish, a dip might provide a trade idea to buy.


(audchf 4h chart, 5/20)

There are a few factors to monitor for this trade idea:

1) A rising channel support and pivot area around 0.8020.
2) Daily stochastic reading around 20.
3) Daily RSI reading around 40.

If the market shows these 3 conditions, be ready for a bullish attempt that has upside in the medium term towards the 0.8755 resistance area. 

A break below 0.80 however would be a major bearish signal.