Following up on last week analysis for the AUD/CHF currency pair. Bears have continued their dominance in the market and drove the exchange rate lower towards a support cluster set by the weekly and the monthly pivot points near the 0.7293 mark.
Given that a breakout had occurred through the bottom border of an uptrend line, the rate could be set for a long-term decline. Moreover, the 55-hour simple moving average has guided the pair lower.
Technical indicators flash bearish sentiment; therefore, bears are likely to grow stronger within the next trading sessions.
