AUDCHF: Reversing near the top of the Channel Down.

AUDCHF may have crossed over the 1W MA100 but eventually failed, also on the 0.5 Fibonacci level, and appears to be reversing. The technical outlook on the 1D time-frame is neutral (RSI = 55.574, MACD = 0.003, ADX = 42.778), so it is a valid sell entry. On top of that, every LH inside this 15 month Channel Down (exception Jan 23rd 2023) has been around the 0.5 Fibonacci level. All this while the 1D MACD is close to a Bearish Cross formation. Sell and target the bottom of the Channel Down over the -0.382 Fib (TP = 0.54500).

Prior idea:


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