Timeframe: 1H
Bias: Bearish
Type: Support Turncoat → Breakdown Play
📊 Technical Setup
AUDCHF previously broke the 4H resistance (0.5236) which flipped to support. However, price has now broken below this support, confirming it as a failed demand zone.
• Entry: Market execution or retest of 0.5236
• SL: Above 0.5245
• TP: 0.5189
• RR: ~1:2
• RSI: Below 50 and heading lower = momentum supports downside
📉 Macro & Fundamental Confluence
• AUD Weakness: RBA dovish, conditional score declining, bearish seasonality
• CHF Slightly Less Weak: Despite SNB dovish stance, CHF is outperforming AUD
• COT + Sentiment: AUD CFTC weakening, CHF holding steady
• Risk Sentiment: RISK ON environment reduces CHF demand but AUD still underperforms
🧭 Gameplan
“Support failed to hold. Bearish pressure intensifies. Target previous swing low zone.”
🔔 Watch for retest of 0.5236 for better RR setup before continuing short.
Bias: Bearish
Type: Support Turncoat → Breakdown Play
📊 Technical Setup
AUDCHF previously broke the 4H resistance (0.5236) which flipped to support. However, price has now broken below this support, confirming it as a failed demand zone.
• Entry: Market execution or retest of 0.5236
• SL: Above 0.5245
• TP: 0.5189
• RR: ~1:2
• RSI: Below 50 and heading lower = momentum supports downside
📉 Macro & Fundamental Confluence
• AUD Weakness: RBA dovish, conditional score declining, bearish seasonality
• CHF Slightly Less Weak: Despite SNB dovish stance, CHF is outperforming AUD
• COT + Sentiment: AUD CFTC weakening, CHF holding steady
• Risk Sentiment: RISK ON environment reduces CHF demand but AUD still underperforms
🧭 Gameplan
“Support failed to hold. Bearish pressure intensifies. Target previous swing low zone.”
🔔 Watch for retest of 0.5236 for better RR setup before continuing short.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.