AUDCHF - Price In A Clear Long‑Term Downtrend

Feb 4

The chart shows AUDCHF in a clear long‑term downtrend inside a bearish descending channel on the weekly timeframe.

Price is now rallying back into a marked supply zone that aligns with the channel’s upper trendline, so the idea is to watch this area for rejection and then look for short setups in line with the prevailing bearish trend.

Feb 4

Note

Price is approaching a major resistance area, referred to as the TRIO RETEST, where multiple technical factors align:

1. The upper trendline of the weekly descending channel
2. A supply zone overlapping that resistance
3. Overbought conditions within the rising weekly channel

Such confluence typically favors trend continuation scenarios, as sellers often step in at these levels rather than expecting a full trend reversal.