Similar to AUD/CAD, AUD/CHF is setting up for a short opportunity with the following in view:
- inside bar following high test bar in pull back to 50ema - price rejection at resistance at ~0.8210 - price retraced to 0.618 Fibonacci level which coordinates well within proximity of resistance at ~0.8210 - Stochastic and RSI in overbought territory - Stochastic and RSI hidden divergence (bearish trend continuation)
entry - below inside bar stop loss - above mother bar (above previous high test bar) target - previous swing low at ~0.7830, or lower
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