CHFAUD broke out of support, further potential drop!
CHFAUD broke out of our first support-turned-resistance at 1.3340 (horizontal pullback resistance) and short term ascending support-turned-resistance line. A strong reaction might occur below this level, pushing price down to our major support at 1.3216 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias.
RSI (55) is also seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is also seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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