Categories: Technical analysis

AUDCHF Wave Analysis – 2 July, 2019

  • AUDCHF broke resistance area
  • Further gains are likely

AUDCHF recently broke the resistance area lying between the key resistance level 0.6890 (which reversed the price in the middle of June) and the 50% Fibonacci correction of the previous downward impulse from the end of May.

The breakout of this resistance area accelerated the active short-term correction (ii).

AUDCHF is expected to rise further in the active wave (ii) and retest the next round resistance level 0.7000 (former resistance from May).

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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Tags: AUDCHF

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