Market Snapshots

AUDCHF Wave Analysis – 29 August, 2019

AUDCHF Wave Analysis – 29 August, 2019
  • AUDCHF reversed from support area
  • Further gains are likely

AUDCHF recently reversed up from the support area lying between the support level 0.6520 (which reversed the price twice from the start of August), support trendline of the daily down channel from April and the lower daily Bollinger Band.

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

AUDCHF is expected to rise further and retest the next resistance level 0.6670 (top of the previous short-term correction (ii)).

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