AUDCHF is seeing strong descending resistance along with a death cross and holding well below our bearish Ichimoku cloud signifying strong bearish momentum. It has broken a recent support-turned-resistance at 0.6661 triggering a drop to 1st support at 0.6392.
Trading Recommendation
Entry: 0.6661
Reason for Entry:
Descending trend line, bearish momentum, overlap resistance
Take Profit: 0.6392
Reason for Take Profit:
Recent overlap support
Stop Loss: 0.6830
Reason for Stop Loss:
Above 23% retracement, above structural resistance, recent swing high
