AUDCHF Wave Analysis – 4 May 2023     

• AUDCHF reversed from support level 0.5865

• Likely to rise to round resistance level 0.6000

AUDCHF currency pair recently reversed up from the key support level 0.5865 (which stopped the previous short term impulse wave 5) intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 0.5865 stopped the previous intermediate impulse wave (3).

Given the strength of the support level 64.40, AUDCHF can be expected to rise further toward the next round resistance level 0.6000.