AUDCHF bearish continuation | 27th aug 2021
Price is holding below the 100period MA signifying an overall bearish momentum. Price is expected to rally downwards to the 1st support level in line with the 23.6% Fibonacci retracement and 61.8% Fibonacci extension. Our bearish bias is also supported by the stochastic indicator where the K% line bounced away from the resistance level and showed a downward movement.
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Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
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