Categories: Technical analysis

AUDCHF Wave Analysis 1 December, 2020

• AUDCHF reversed from major resistance level 0.6700

• Likely to fall to 0.6600

AUDCHF continues to fall after the pair failed to break above the multi-month resistance level 0.6700 (which has been reversing the pair from June) – standing near the upper daily Bollinger Band.

The downward reversal from the resistance level 0.6700 started the active medium-term downward impulse wave (3).

AUDCHF is expected to fall further toward the next support level 0.6600 (low of the daily Morning Star from the start of November).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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