AUDCHF: Important Resistance to Watch 🇦🇺🇨🇭
https://www.tradingview.com/x/THBDk7p8/
AUDCHF is trading in a long term bearish trend.
After setting a new lower low, the market is correcting within an expanding wedge pattern.
Ahead, I see a significant supply cluster based on a major falling trend line and a horizontal resistance.
The next trend-following wave may initiate from that.
Your bearish confirmation will be a bearish breakout of the support of the wedge.
Daily candle close below will confirm the violation.
A bearish movement will be expected to 0.5626 then
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AUDCHF is trading in a long term bearish trend.
After setting a new lower low, the market is correcting within an expanding wedge pattern.
Ahead, I see a significant supply cluster based on a major falling trend line and a horizontal resistance.
The next trend-following wave may initiate from that.
Your bearish confirmation will be a bearish breakout of the support of the wedge.
Daily candle close below will confirm the violation.
A bearish movement will be expected to 0.5626 then
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