AUD/CHF Rising Channel Breakdown Opens Path to 0.5665AUD/CHF is trading around 0.5709 after rejecting the upper boundary of a well-defined rising channel. Price has broken below the channel support and is struggling to regain bullish momentum, indicating that sellers are beginning to take control.
Technical Analysis
Trend: Bearish (short-term)
Pattern: Rising Channel Breakdown
Ichimoku Cloud: Price is trading at the edge/below the Ichimoku cloud, while the cloud ahead is turning into resistance, supporting a bearish outlook.
Resistance Zone: 0.5715 – 0.5720
Previous channel support turned resistance.
Any rejection from this area could trigger another wave of selling.
Immediate Support: 0.5665
A decisive break below this level would confirm further downside.
Bearish Scenario
If sellers maintain control and price remains below 0.5715, AUD/CHF could continue lower toward:
Target 1: 0.5665
Target 2: 0.5625
These targets align with the projected move shown on the chart and represent the next significant demand zones.
Bullish Invalidation
The bearish setup would be invalidated if:
Price reclaims the broken channel.
A strong candle closes above 0.5720.
Price moves back above the Ichimoku cloud with increasing bullish momentum.
Trading Idea
Bias: Bearish
Entry: On a rejection from 0.5715–0.5720 or a confirmed break below 0.5665.
Targets: 0.5665 → 0.5625
Stop Loss: Above 0.5725 or above the recent swing high.
Conclusion
The technical structure favors further downside after the breakdown from the rising channel. As long as AUD/CHF remains below 0.5715 and the Ichimoku cloud acts as resistance, sellers are likely to push the pair toward 0.5665 and potentially 0.5625.
Short
