AUD/CHF Technical Analysis

• Bears are still in control
• Bearish SHS pattern
• Trend line break
• Move down is imminent

1. Left shoulder
2. Head
3. Right shoulder
4. Trend line break & Pinbar
5. Target

The AUD/CHF is still bearish. Predominant trend in the AUD is bearish. Technical and Fundamentals are aligned as RBA last statement was bearish. The CHF is getting stronger and if CHF/JPY gets higher (which it should concerning that we have a pinbar on daily) then the AUD/CHF drop will be even more exaggerated. Momentum is bearish and a close below 0.6690 should add more sellers in the equation. We can also spot bearish shoulder head shoulder formation which adds to the confluence. The target is M L5 0.6626.

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Cheers and safe trading,

Nenad