AUDCHF - SELL IDEA

Delving into AUDCHF, I've spotted a compelling SHORT setup. Technical indicators signal bearish momentum, with the pair failing to surpass key resistance and forming a descending triangle pattern, suggesting a downward breakout is imminent. Accompanied by bearish MACD divergence and an RSI trending below the midpoint, the stage is set for a decline.

Economically, the Australian Dollar faces headwinds from fluctuating commodity prices and uncertain global trade conditions, which could dampen AUD strength. In contrast, the Swiss Franc benefits from its safe-haven status amidst ongoing market volatility, bolstering the case for a SHORT position.

Entering this trade, I’m targeting strategic entry points just below the triangle's support, with defined targets and stop-losses to manage risk effectively. This SHORT strategy aims to capitalize on the anticipated depreciation of AUD against CHF, leveraging technical patterns and economic factors for a calculated approach to potential profits

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