Lingrid | AUDCHF continues to Moving Sideways. Potential Short for FX:AUDCHF by Lingrid

Lingrid | AUDCHF continues to Moving Sideways. Potential Short

is currently trading within a downward channel and has recently formed a new lower low. The price is now approaching the resistance zone and the upper channel boundary after bouncing off the support level. I expect a pullback and a retest of the support level, followed by additional downward momentum. This expectation is supported by the 4H timeframe, where the market has encountered a strong resistance zone, indicating that it is likely to continue its bearish trajectory. Therefore, I anticipate the market to retest the support level before moving further bearish toward the lower channel boundary. My goal is the support zone around 0.56470

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

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