Mihai_Iacob

AudChf is bearish, look for sell opportunities

Short
OANDA:AUDCHF   Australian Dollar / Swiss Franc
The trend for AudChf is clearly bearish and the pair fell 700 pips since the end of February to the end of August.
The rally started after the recent low is just a correction to the overall trend and we can consider this correction over at this moment.
If we look at the daily chart we can see that the recent rally reversed from a very strong confluence resistance given by last horizontal support and 50% Fibo.
Also at the beginning of November AudChf has broken under the rising trend line and 0.68 support and now the road is clear for a new test of 0.65 zone support.
I'm looking to sell rallies and I will stay bearish as long as the price is under the last broken support

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