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CHFAUD broke out of support, further potential drop!

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SWISS FRANC / AUSTRALIAN DOLLAR (FX_IDC:CHFAUD)  
easyMarkets Broker  
FX_IDC:CHFAUD   SWISS FRANC / AUSTRALIAN DOLLAR
Trend Analysis Harmonic Patterns Chart Patterns Forex forextrading forexsignals forexcurrency CHFAUD chf aud chfaudlong chfaudshort
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trendanalysis harmonicpatterns chartpattern forex forextrading forexsignals forexcurrency chfaud chf aud chfaudlong chfaudshort
CHFAUD broke out of our first support-turned-resistance at 1.3340 (horizontal pullback resistance) and short term ascending support-turned-resistance line. A strong reaction might occur below this level, pushing price down to our major support at 1.3216 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias.
RSI (55) is also seeing a bearish exit and we might see a corresponding drop in price.
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