AUDCHF Wave Analysis – 26 August, 2022

• AUDCHF reversed from key resistance level 0.6710

• Likely to fall to support level 0.6650

AUDCHF currency pair recently reversed down from the key resistance level 0.6710 (which has been steadily reversing the price from the start of July), intersecting with the upper Bollinger Band and the 38.2% Fibonacci correction of the earlier sharp C-wave from June.

The downward reversal from the resistance level 0.6710 stopped the earlier short-term impulse wave 3.

Given the strength of the resistance level 0.6710, AUDCHF can be expected to fall further toward the next support level 0.6650.