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Harmonic Pattern- Bearish Bat Pattern
Potential Reversal Zone (PRZ)- 0.7150
As per our analysis AUDCHF was trading lower on Friday and lost nearly 50 pips from the high of 0.71306.It has declined slightly below 200- H MA and shown a minor recovery.It is currently trading around 0.71063.
On the higher side, near term resistance is around 0.7130 and any violation above will take the pair till 0.7150 .Any further bullishness only above 0.71500 and any break above targets 0.7200.
The near term support is around 0.7070 and any violation below will drag the pair to next level till 0.70400/0.7020. Any break below 0.7000 confirms bearish continuation.
It is good to sell on rallies around 0.7110 with SL around 0.7150 for the TP of 0.7000.
