AUDCHF facing bearish pressure | 16 Aug 2021
AUDCHF has broken through the ascending support turn resistance trendline signifying a bearish movement. Prices had bounced off the swing high resistance in line with the 88.6% Fibonacci retracement. We can now see that price is moving towards the 1st support in line with 23.6% Fibonacci retracement and 78.6% Fibonacci extension. Our bearish bias is further supported by the price holding below the EMA.
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