I find this pair being in the process of completing a strong correction, as it is probably about to reverse at the median line of the channel, which would coincide with Ret-23.6%. The aussie has been showing a lot of strength in recent hours and it's pretty overbought now. The swissy, just the opposite, has been weak and reached oversold levels. So a new downward swing move off of 0.805 seems to be well justified. Target? I think it should get to 0.795. However, if this correction gets stronger than expected, next resistance lies at 0.82.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
