AUDCHF Chart Technical Outlook faces strong support at 0.5610
AUD/CHF broad bias is bearish. AUD, as a risk asset, is under pressure due to the risk aversion sentiment. CHF is supported by safe-haven cash flow. Fundamentally, there is room for the downside.
Technically, prices face strong support from the previous swing low from August this year and the old one from March 2020. Being oversold and showing bullish divergence in intraday charts challenges the bearish momentum.
I expect prices to stall current levels and may be an intraday upside correction, but rallies would find sellers.
Resistances: 0.5665, 0.5740
Supports: 0.5610, 0.5550
