AUD/CHF Shoulder Head Shoulder Formation For Bearish Pattern
By:Nenad Kerkez
Published: Nov 25, 2021, 10:47 UTC•1min read
The AUD/CHF is still bearish. Predominant trend in the AUD is bearish. Technical and Fundamentals are aligned as RBA last statement was bearish.
Mentioned in Article
AUD/CHF
CHF0.57679
-0.26%
AUD/CHF Technical Analysis
- Bears are still in control
- Bearish SHS pattern
- Trend line break
- Move down is imminent
- Left shoulder
- Head
- Right shoulder
- Trend line break & Pinbar
- 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.
For a look at all of today’s economic events, check out our economic calendar.
Cheers and safe trading,
Nenad
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