Week 31: AUDCHF - Price hit and rejected off major Resistance

CHF was very bearish last week; thus XXX/CHF pairs are all very bullish. With 5 straight days of bull candles, I expect continuation on the bullishness. However, price has hit and was rejected off a major Resistance (base on weekly TF). If price is able to break through strongly, I will long on retrace to 0.788.

If the resistance holds strongly, I will short if price is able to break past the trench at 0.767. Will take a wait and see approach.