FX.co ★ Daily Video Analysis: AUDCHF is facing bearish pressure, potential for a further drop!

Today we take a look at AUDCHF. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. AUDCHF has reversed from the resistance level at 0.66832, which is in line with our 38.2% Fibonacci retracement level and horizontal overlap resistance. From here, it could possibly drop further to our first take profit level at 0.66139, in line with our 76.4% Fibonacci retracement level, and second take profit level at 0.65828, in line with our horizontal swing low support. Price is also below the EMA (21) which shows bearish pressure in line with our analysis.