As a result of calm upward correction from September 2015 – AUDCHF reached a very important resistance at 0.7750 converging with downward trend line, where in February this year there was a bearish reaction. Since then, we have seen declines, but more dynamic one took place from the moment of overcoming the upward trend line, which is the lower limit of the mentioned correction.
Looking at daily chart, we will notice that these falls reached support zone where bullish response occurred. After few days of correction, today bears tried to break this zone and if only the day ends at current or lower level, in near future we expect continuation of declines.
