AUDCHF Wave Analysis 24 July 2024

– AUDCHF broke support level 0.5865

– Likely to fall to support level 0.5735

AUDCHF currency pair recently broke the key support level 0.5865 (which stopped the previous correction (A) in the middle of June).

The breakout of the support level 0.5865 coincided with the breakout of the 50% Fibonacci correction of the previous sharp upward impulse from February.

AUDCHF currency pair can be expected to fall further to the next support level 0.5735 (former multi-month low from the middle of April).