Categories: Technical analysis

AUDCHF Wave Analysis – 7 April, 2022

• AUDCHF reversed from resistance level 0.7070
• Likely to fall to support level 0.690

AUDCHF currency pair recently reversed down from the strong resistance level 0.7070 (the previous monthly high from March) – ending the earlier wave (C).

The resistance zone near the resistance level 1.2450 was strengthened by the upper daily Bollinger Band and resistance trendline of the daily up channel from February.

AUDCHF can be expected to fall further toward the next support level 0.690 (low of wave (iv) from the start of this month).

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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