Technical analysis

AUDCHF Wave Analysis – 26 May 2023

• AUDCHF reversed from support level 0.5875

• Likely to rise resistance level 0,5950

AUDCHF today reversed up from the support level 0.5875 (which stopped the previous waves 5 and B), intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 23.50 stopped the previous impulse wave 3 of the intermediate impulse wave (3) from the start of May.

Given the strength of the support level 0.5875 and the bullish divergence on the daily RSI, AUDCHF can be expected to rise further toward the next resistance level 0,5950.

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