AUD/CHF technical analysis
- Bears are still in control.
- Bearish SHS pattern.
- Trend line break.
- Move down is imminent.
- Left shoulder.
- Head.
- Right shoulder.
- Trend line break & Pinbar.
- Target.
The AUD/CHF is still bearish. Predominant trend in the AUD is bearish. Technical and Fundamentals are aligned as RBA last statement was bearish. The CHF is getting stronger and if CHF/JPY gets higher (which it should concerning that we have a pinbar on daily) then the AUD/CHF drop will be even more exaggerated. Momentum is bearish and a close below 0.6690 should add more sellers in the equation. We can also spot bearish shoulder head shoulder formation which adds to the confluence. The target is M L5 0.6626.
