Market Snapshots

AUDCHF Wave Analysis 22 December, 2020

AUDCHF Wave Analysis 22 December, 2020

• AUDCHF falling inside corrective wave (ii)

• Likely to reach support level 0.665

AUDCHF continues to fall inside the minor corrective wave (ii) which started recently from powerful resistance level 0.6745 (which stopped the sharp uptrend in June).

The resistance area near the resistance level 0.6745 was strengthened by the upper daily Bollinger Band.

AUDCHF is expected to fall further toward the next support level 0.665 (low of the previous daily Hammer and the target price for the completion of the active corrective wave (ii)).

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