AUD / CHF: trend – bearish, 3 lower peaks
The last adjustment reached resistance levels 0.6842, testing the level of breakthrough. Then there are closing bar below these levels, confirming the downward movement.
Testing the resistance bar is engulfing and reversing the correction, closing below the bottom of two bull bars. Therefore, probability of decrease is greater. We waited a little adjustment of the current price, which gives a good place to position with stop 0.6854
CCI (50) crosses 0, which is also a signal of a possible downgrade.Price below moving averages arranged in bearish formation.
Sentiment: AUD remains under pressure after a bad GDP data, and because of bad data from China
Stefan D. Angelov – Head of Stocks Trading