Categories: Technical analysis

AUDCHF Wave Analysis 19 November, 2020

• AUDCHF under bearish pressure

• Likely to fall to 0.6600

AUDCHF under bearish pressure after the pair failed to break above the major resistance level 0.6700 (which has reversed the price multiple times from June).

The downward reversal from the resistance level 0.6700 stopped the previous minor ABC correction 2 from the middle of October.

AUDCHF is likely to fall further toward the next support level 0.6600 (former key resistance level from last month).

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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The FxPro Tech Analysis Team
Tags: AUDCHF

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