AUDCHF Wave Analysis 5 February, 2021

• AUDCHF rising inside impulse wave (C)

• Likely to reach resistance level 0.6900

AUDCHF continues to rise inside the impulse wave (C) – which previously broke the minor daily down channel from last month.

The active impulse wave (C) started earlier when the pair reversed up from the powerful support level 0.6745 (former long-term resistance level from last August).

Given the clear uptrend – AUDCHF currency pair is expected to rise further toward the next resistance level 0.6900 (top of the aforementioned down channel and wave (1)).