Technical analysis

AUDCHF Wave Analysis – 13 May, 2022

AUDCHF Wave Analysis – 13 May, 2022

• AUDCHF reversed from support area
• Likely to rise to resistance level 0.7000

AUDCHF currency pair recently reversed up from the support area located between the key support level 0.6835 (which has been reversing the pair from the start of March), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse (1) from December.

The upward reversal from this support area created the daily Hammer – which stopped wave 2.

AUDCHF can be expected to rise further toward the next resistance level 0.7000.

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