AUDCHF has been facing significant downside pressure. This has been confirmed by the recent break of 4Q 2016 trend support and successfully retesting it with a rejection. This has pushed the pair into bearish territory.
We have recently seen a solid retrace which might allow for entry/addition of short positions.
Currently sitting at 0.73000, the lower 4h timeframe shows semi-strong signs of weakness.
Should the pair fail to break 0.73300, the pair is likely to take another dive to at around 0.715.
Should the pair break above 0.73300, the pair will still be in bearish territory, however immediate bearish outlook will be cancelled.
Safe and Successful Trading!
We have recently seen a solid retrace which might allow for entry/addition of short positions.
Currently sitting at 0.73000, the lower 4h timeframe shows semi-strong signs of weakness.
Should the pair fail to break 0.73300, the pair is likely to take another dive to at around 0.715.
Should the pair break above 0.73300, the pair will still be in bearish territory, however immediate bearish outlook will be cancelled.
Safe and Successful Trading!
