AUDCHF: Bearish continuation - Will it reach 0.55190?

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AUDCHF is trading within a well-defined descending channel, with price action respecting both the upper and lower boundaries. The recent rejection from the resistance zone suggests sellers are maintaining control, supporting a potential continuation of the downtrend.

As long as the price remains below the resistance level and the channel's upper boundary holds, the bearish structure remains intact.

A potential downside target is 0.55190, aligning with the lower boundary of the channel. A break and close below this level could signal further bearish momentum.

However, a breakout above the resistance zone would invalidate the bearish scenario and may indicate a potential reversal or deeper pullback.

Always confirm your setups and trade with solid risk management.
Best of luck!

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