Technical analysis

AUDCHF Wave Analysis 23 March, 2021

AUDCHF Wave Analysis 23 March, 2021

• AUDCHF reversed from support area

• Likely to rise to resistance level 0.7225

AUDCHF recently reversed up with the daily Hammer from the support area located between the support level 0.7100, lower daily Bollinger Band and the 50% Fibonacci correction of the earlier upward impulse wave (i) from last month

The upward reversal from this support area is aligned with the active multiple upward impulse waves (iii), 3 and (3).

Given the clear daily uptrend – AUDCHF is likely to rise further toward the next resistance level 0.7225 (which has been reversing the price from the end of February).

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