AUDCHF Wave Analysis 28 September, 2020

• AUDCHF reversed from support level 0.6500

• Likely to rise to 0.6600

AUDCHF recently reversed up from the support area lying between the strong support level 0.6500 (which has been steadily reversing the price from the middle of June), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse (C) from May.

The upward reversal from the aforementioned support area created the daily Japanese candlesticks reversal pattern Hammer.

AUDCHF is expected to rise further toward the next resistance level 0.6600 (former support from the first half of September).