AUD/CHF Shoulder Head Shoulder Formation For Bearish Continuation

November 25, 2021
Nenad Kerkez
AUD/CHF Shoulder Head Shoulder Formation For Bearish Continuation

AUD/CHF Technical Analysis

  • Bears are still in control
  • Bearish SHS pattern
  • Trend line break
  • Move down is imminent

  1. Left shoulder
  2. Head
  3. Right shoulder
  4. Trend line break & Pinbar
  5. Target

The AUD/CHF is still bearish. Predominant trend in the AUD is bearish. Technical and Fundamentals are aligned as RBA last statement was bearish. The CHF is getting stronger and if CHF/JPY gets higher (which it should concerning that we have a pinbar on daily) then the AUD/CHF drop will be even more exaggerated. Momentum is bearish and a close below 0.6690 should add more sellers in the equation. We can also spot bearish shoulder head shoulder formation which adds to the confluence. The target is M L5 0.6626.