AUD/CHF: Sell below 0.68346
We are currently focusing on this pair, which we usually don’t trade, for one reason…
This pair is amongst the most volatile pair over the last 10 weeks in % (excluding commodities).
Checking the weekly (below), we see that weekly KS (0.70421) has been heavily broken with a big bearish wick. LS also crossed its prices and has no more support.
The Daily brings an additional information: Prices attempted to join TS following a blue bullish candle but were rejected. TS corresponds to a 50% fib retracement as well as Weekly KS.
Finally H4 tends to confirm the above mentioned. Look at how prices were rejected three times on Weekly KS and how LS rebounded very nicely on the extension of daily SSB. Should 0.68346 not hold on H4 close, we think it could be a valid bearish setup.