Market Snapshots

AUDCHF Wave Analysis 7 October, 2020

AUDCHF Wave Analysis 7 October, 2020

• AUDCHF reversed from support area

• Likely to rise to 0.6600

AUDCHF recently reversed up from the support area lying between the lower daily Bollinger Band, key support level 0.6500 and the 38.2% Fibonacci correction of the upward impulse (C) from May.

The upward reversal from this support area stopped the previous short-term corrective impulse wave (ii).

AUDCHF is likely to rise further toward the next resistance level 0.6600 (top of the previous short-term correction (ii)).

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