Weekly Price Action Setups & Key Levels | Oct 16-21

gbpusd price action 2ndskiesforex

​My current open active trades: USDCHF, Silver, AUDCHF, AUDUSD (option) $Sber

AUDCHF – Small Corrective Rejection at Key Resistance Zone (daily chart)
After tagging the key resistance zone we’ve talked about in prior commentaries, the AUDCHF has formed a small corrective rejection in the intra-day price action. This weak selling suggests thus far a) the bears aren’t pushing back heavy, and b) the bulls are still pushing up towards this resistance zone.

I’m holing a structural neutral bias while the 7545-7250 corrective structure remains. Only a daily close above mid-76 or the 77 handle would change my bias.

Rejections from here if they become impulsive may target 74 and 7250 which is the key structural support for the last 4+ …

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