AUDCHF is testing the longterm falling trend line
AUDCHF is testing the 0.66850 of the falling resistance of the falling long-term trend line. The pair is testing the triangle downside resistance line 0.6500 just below the longterm falling trend line. For an upside reversal and higher probability long trade entries, we need to see a break above 0.6650. AUDCHF reached 0.6700 in the retrace of a steep swing down to 0.5340. The overall long-term is a downtrend now and a confirmed break below 0.6500 will lead to an extended continuation lower.
Note – We are inclined to short trade entries with the stop loss above 0.6550 and preferably upon a break below 0.6480
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