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Timonrosso
Jul 11, 2023 11:53 AM

AUDCHF showing downside after Inv H&S break down Short

AUD/CHFOANDA

Description

Inverse Head and Shoulders has formed over the last few weeks.
Already we have had a breakdown below the neckline. This tells us supply and selling is high and mighty.
We can safely put a stop loss above the handle, as if it breaks above it would enter into a new uptrend.
Other indicators confirm downside.
200>21>7
RSI>50 (Lower highs)
Target 1.5535

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