AUDCHF Analysis
Updated
Entering in a AUDCHF Short position on the Daily time frame @ 0.66965
Technical perspective - Daily time frame, head and shoulders with a break lower on the neck line and also a nice trend line break shown in blue
Fundamental key news - New delta variant in South Africa + request for China DiDi to de-list from US stock exchange is both bad news for AUD currency. Speculating this will be the catalyst down towards the lower level. Will be taking partials along the way.
Technical perspective - Daily time frame, head and shoulders with a break lower on the neck line and also a nice trend line break shown in blue
Fundamental key news - New delta variant in South Africa + request for China DiDi to de-list from US stock exchange is both bad news for AUD currency. Speculating this will be the catalyst down towards the lower level. Will be taking partials along the way.
Trade active
Partial Profits taken - going to ride this trade out until next week moving stop loss to break even. Going to be patient before switching gears to the long side.Note
also moved final take profit level to 0.65 with a TP2 take profit level in between.Trade closed: target reached
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