Lingrid

Lingrid | AUDCHF short term PULLBACK

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FX:AUDCHF   Dólar Australiano/Franco Suíço
The price perfectly fulfilled my last idea. It hit the target. AUDCHF is currently trading within a downward channel, having recently formed a new lower low. The price is now approaching the resistance zone and the upper channel border, following a bounce off the support level. I anticipate a pullback and retest of the support level, followed by further downward momentum. This is because the market on the daily timeframes has reached a strong resistance zone, which suggests that the market is likely to continue its downward trajectory. I expect a fake breakout of the resistance zone to occur, allowing the market to grab liquidity above before resuming its downward trend. My goal is the support level at 0.60550


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