Market Snapshots

AUDCHF Wave Analysis – 31 January, 2020

AUDCHF Wave Analysis – 31 January, 2020
  • AUDCHF broke key support level 0.6515
  • Likely to fall to 0.6450

AUDCHF recently broke sharply through the key support level 0.6515 (former double bottom from August) – after the price reversed down from the lower trendline of the recently broken daily down channel from November ,acting as resistance after it was broken.

The breakout of the support level 0.6515 should accelerate the active impulse waves 3 and (3).

AUDCHF is likely to fall further toward the next support level 0.6450 (target price for the completion of the active impulse wave 3).

 

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