Lingrid | AUDCHF: Potential CHANNEL breakout

is currently consolidating after breaking and closing below the psychological level of 0.5700. The overall trend remains bearish, and the market has recently bounced off the resistance zone. Looking at the daily chart, we can observe a sell-off followed by a pullback to the 61.8% Fibonacci retracement level. The price has consolidated around this psychological level before moving lower, breaking through last week's lows. I believe the market is poised to break through the channel's border, which could indicate a continuation of bearish momentum. My goal is support level 0.56400

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Trade closed: target reached

Lingrid

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