AUDCHF has been in an uptrend since February and has been buying ever since. The market changed direction with a double top showing that the sellers have the momentum.
The market sold to 1.59070 which is a strong support and formed an ascending triangle to break the resistance of our uptrend to form a downtrend. The market then came back to retest the support in 1.5907 giving us a double confirmation that the market is selling.
The market sold to 1.59070 which is a strong support and formed an ascending triangle to break the resistance of our uptrend to form a downtrend. The market then came back to retest the support in 1.5907 giving us a double confirmation that the market is selling.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.