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06.05.202110:06 Forex Analysis & Reviews: Daily Video Analysis: AUDCHF facing bearish pressure, potential for further downside!

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Today we take a look at AUDCHF. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is testing the sell entry level, which is in line with 61.8% Fibonacci retracement and horizontal pullback resistance, where we could see further downside towards our take profit levels, in line with horizontal swing low support and 61.8% Fibonacci extension. Stochastics has also reversed from the upper resistance where it has reacted off before, showing signs of bearish pressure in line with our analysis.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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