AUDCHF broke resistance zone – November 08, 2018
November 08, 2018 @ 17:21 UTC
- AUDCHF broke resistance zone
- Further gains are likely
AUDCHF continues to rise after the recent breakout of the resistance area lying at the intersection of the pivotal resistance level 0.7270 (former multi-month support level) and the resistance trendline of the daily up channel from September.
The breakout of this resistance zone should accelerate the active impulse wave (C) – which belongs to the long-term ABC correction ② from September.
AUDCHF is like to rise further and re-test the next resistance level 0.7400 (which reversed the price multiple times in July and also in August).