AUD/CHF - big upmove ahead expected

The COT Data shows the last week's report on AUD bullish. Almost 10k short positions were closed and few longs opened by non-commercial institutions.

From a technical perspective, AUD/CHF is currently trading at a monthly low. From the weekly, we can see a double bottom formation.
At the 4h chart, we can identify the pair gaining up words momentum inside the channel. Right now price bounced from the lower band of the channel, also creating a double bottom formation.
We started longing the pair already, we expect a rally up until the top of the channel, price 0.688. However, our first take-profit target is 0.680 representing the middle band of the channel + completing the W formation.

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