Technical analysis

AUDCHF Wave Analysis – 12 April, 2022

AUDCHF Wave Analysis – 12 April, 2022

• AUDCHF reversed from pivotal support level 0.6900
• Likely to rise to resistance level 0.7000

AUDCHF currency pair today reversed up sharply from the pivotal support level 0.6900 (which stopped the previous corrective wave (iv) at the end of March).

The support zone near the support level 0.6900 is strengthened by the 38.2% Fibonacci correction of the upward price impulse from the end of February.

Given the strong daily uptrend – AUDCHF currency pair can be expected to rise further toward the next round resistance level 0.7000.

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