Categories: Technical analysis

AUDCHF Wave Analysis – 29 August, 2019

  • AUDCHF reversed from support area
  • Further gains are likely

AUDCHF recently reversed up from the support area lying between the support level 0.6520 (which reversed the price twice from the start of August), support trendline of the daily down channel from April and the lower daily Bollinger Band.

The upward reversal from this support area stopped the earlier short-term impulse wave (iii).

AUDCHF is expected to rise further and retest the next resistance level 0.6670 (top of the previous short-term correction (ii)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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