HomeContributorsTechnical AnalysisAUD/CHF Bearish SHS Pattern M L5 Is The Next Target

AUD/CHF Bearish SHS Pattern M L5 Is The Next Target

AUD/CHF technical analysis

  • Bears are still in control.
  • Bearish SHS pattern.
  • Trend line break.
  • Move down is imminent.

  1. Left shoulder.
  2. Head.
  3. Right shoulder.
  4. Trend line break & Pinbar.
  5. 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.

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