Market Snapshots

AUDCHF Wave Analysis – 07 April, 2020

AUDCHF Wave Analysis – 07 April, 2020
  • AUDCHF broke resistance area
  • Likely to rise to 0.6150

AUDCHF recently broke the resistance area located between the key resistance level 0.5950 (which has been reversing the price from the middle of March) and the 50% Fibonacci retracement of the pervious sharp downward impulse from February.

The breakout of this resistance area should accelerate the active impulse wave (c).

AUDCHF is likely to rise further toward the next round resistance level 0.6150 (standing close to the 61.8% Fibonacci retracement of the downward impulse from February).

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