As we can see here on the AUD/CHF
chart that the market has been trading within a downtrend within the resistance trend line
and a major support area
. As of now we can see that the market, after a long downwards push has tested the strong bottom support area
and then risen to test the trend line
with a small double top
pattern on the daily, to show a form of structure, also it has tested the 0.382 fib level at this point, along with strong daily bearish
candles now moving to the downside, the direction has now been identified to move to the downside. So now we will be waiting for the market to be reaching the bottom support to give up different patterns or structure so we will be able to take a trade. due to the nature of the trend, we will we looking or upside movements due to previous occurrences.