AUD / CHF: descending trend, correction of the trend and a new possible downtrend.
The price moved below the support 0.6837, registering a lower top and deeper bottom, possible change in short-term downward trend.
Price below 5 periodic average, as 5 periodic average was under 25 and 13 period arranging in bearish formation.
CCI is below 0, downward medium movement is short.
Breakthrough support, current resistance was realized by a strong bearish bar despite the lower shadow, the corrective movement after that could not go over 618% on the bar, giving a signal of a possible new bearish momentum, just as the correction has given us a good place to sell.
Sentiment: There is more bad data from China will have a negative impact on the AUD, and caution will redirect capital to CHF
Stefan D. Angelov - Head of Stocks Trading
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