Market Snapshots

AUDCHF Wave Analysis – 11 December, 2019

AUDCHF Wave Analysis – 11 December, 2019
  • AUDCHF reversed from support area
  • Likely to rise to 0.6800

AUDCHF recently reversed up from the support area lying between the support level 0.6700 (which has been reversing the price from October), lower daily Bollinger Band and 50% Fibonacci correction of the previous ABC correction (4) from August.

The upward reversal from this support area stopped the earlier short-term impulse wave 3.

AUDCHF is expected to rise further toward the next resistance level 0.6800 (top of the previous short-term correction 2).

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