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FX.co ★ Daily Video Analysis: AUDCHF facing descending trend line resistance, potential for further drop

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Forex Analysis:::2021-08-19T08:55:50

Daily Video Analysis: AUDCHF facing descending trend line resistance, potential for further drop

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 CFDs on margin carries high risk.

Losses can exceed the initial investment so please ensure you fully

understand the risks.

Analyst InstaForex
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