Categories: Technical analysis

AUDCHF Wave Analysis 7 October, 2020

• AUDCHF reversed from support area

• Likely to rise to 0.6600

AUDCHF recently reversed up from the support area lying between the lower daily Bollinger Band, key support level 0.6500 and the 38.2% Fibonacci correction of the upward impulse (C) from May.

The upward reversal from this support area stopped the previous short-term corrective impulse wave (ii).

AUDCHF is likely to rise further toward the next resistance level 0.6600 (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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Tags: AUDCHF

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