AUDCHF approaching resistance, potential drop!

2018년 8월 20일

AUDCHF is approaching our first resistance at 0.7278 (horizontal pullback resistance, 50%, 23.6%, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 0.7152 (horizontal swing low support, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish bias in line with our bearish bias.
Stochastic (55,5,3) is also approaching our resistance and a reaction below this level might see a corresponding drop in price.
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