AUDCHF at Key Resistance: Reversal Toward 0.56810?

7 Feb

AUDCHF has reached a significant resistance level, marked by prior price rejections and strong selling pressure. This area has historically acted as strong supply, suggesting the potential for a bearish reversal if sellers regain control.

If the price confirms a rejection within this supply zone, I anticipate a move downward toward the 0.56810 level, aligning with the broader range structure and the next key support area.

Traders should look for bearish confirmation signals, such as bearish engulfing candles or strong rejection wicks, before entering short positions.

7 Feb

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