AUDCHF forex technical analysis Our expectations:
Medium-term downward trend and correction to 50% Fibonacci and 200SMA. Deep correction makes short positions here logical with SL 0.7354.
The price is under key horizontal resistance and the last D1 bar is a signal bar with a long top shadow.
DeM Sequential's 9th has worked and we can now expect a new downward movement.
The Signal Bar is testing the DeM level of 0.7255.
Alternative Scenario: Returning the price and closing the bar above the DeM level will break the negative scenario and we can expect consolidation around the current levels.
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