AUDCHF SHORT

CHF (Swiss Frank) has been getting stronger prior to last weeks market close. Momentum should follow in the coming week. Here on AUDCHF we can clearly see price rejected from a strong resistance are (1 Year Resistance Area). Price rapidly dropped from the 0.7100 level which could be a sign of smart money selling or Non-Commercials taking profit. Price should try to retest that 0.71200 area before another huge drop off. So in the coming week I will be looking to short this pair from that level. Short Entry now could be good as well though it won't do well with your risk ratio if market retraced back up. So Market open price will be crucial to this analysis.