AUDCHF is Bearish

16 Jul

Price was in a strong upward trend, however a bearish divergence emerged on four hourly time frame, which first led to the break of ascending trendline, and then price also broke previous lower high, indicating that bears are assuming control of the price action. Price is currently defining a lower high, and if it manages to break freshly printed lower low then we can expect a bearish rally. Targets are mentioned on the chart.