AUDCHF Wave Analysis 6 February 2024

– AUDCHF reversed from key support level 0.5620

– Likely to rise to resistance level 0.5730

AUDCHF currency pair recently reversed up from the key support level 0.5620, which has been reversing the pair from the middle of August , stopping earlier waves (5),(1) and 1.

The support level 0.5620 was strengthened by the lower daily Bollinger Band – which started the active wave ii.

Given the strength of the support level 0.5620, AUDCHF currency pair can be expected to rise further to the next resistance level 0.5730, top of the previous correction 2.