AUDCHF currency pair recently reversed down from the resistance area located between the key resistance level 0.70500 (which has been reversing the price from the end of March) and the upper daily Bollinger Band. The downward reversal from this resistance zone created the
daily Japanese candlesticks reversal pattern Bearish Engulfing.
Given the strongly bearish AUD sentiment seen across the FX markets today – AUDCHF currency pair can be expected to fall further toward the next support level 0.69250.
