AUDCHF Wave Analysis – 25 November, 2022

• AUDCHF reversed from support level 0.6300

• Likely to rise to resistance level 0.6425

AUDCHF recently reversed up from the strong support level 0.6300 (which stopped wave (1) with the daily Morning Star from the start of November).

The support level 0.6300 was further strengthened by the lower daily Bollinger Band and by the 61.8% Fibonacci correction of the upward correction from October.

Given the oversold Stochastic, AUDCHF can be expected to rise further toward the next resistance level 0.6425 (which has been reversing the price from October).