AUD/CHF is Still Bearish as the Price is Capped Below 0.6590

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The AUD/CHF got the overbought signal while in downtrend. We might expect a further drop in the AUD currency.

The pair is having a retracement within the 0.6545-60 zone. Sellers might take control again on the bearish candlestick pattern. A rejection off the zone should target 0.6520 and 0.6490. If the price goes below 0.6490 then bearish continuation towards 0.6439 is possible. The scenario is valid as long as the price is below 0.6590. Have in mind that the AUD/CHF market is slower as it shows only 55 pips of the ATR(5) and it might take a while for the price move to develop.

The analysis has been done with the CAMMACD system.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Leave a Reply


This site uses Akismet to reduce spam. Learn how your comment data is processed.

Notify of