#AUDCHF 1DAYAUDCHF (1D Timeframe) Analysis
Market Structure:
The price is currently testing a descending trendline resistance, which has consistently acted as a barrier to upward movement. This suggests the potential for selling pressure to emerge at this level.
Forecast:
A sell opportunity may arise if the price fails to break above the trendline and shows signs of rejection, indicating a likely move to the downside.
Key Levels to Watch:
Entry Zone: Near the trendline resistance after confirmation of rejection.
Risk Management:
Stop Loss: Placed above the trendline resistance or recent swing high to minimize risk.
Take Profit: Target the next support levels or Fibonacci retracement zones for potential downside movement.
Market Sentiment:
The price action at the trendline indicates bearish sentiment, with sellers likely to dominate if the resistance holds firm.
