AUDCHF Wave Analysis 8 December, 2020

• AUDCHF broke support area

• Likely to fall to 0.6500

AUDCHF recently broke the support area lying between the support level 0.6600 (former resistance from October and the low of the previous daily Morning Star from the start of November).

The breakout of the support level 0.6600 coincided with the breakout of the 38.2% Fibonacci correction of the previous upward impulse (c) from the end of October.

AUDCHF is expected to fall further toward the next support level 0.6500 (61.8% Fibonacci correction of the aforementioned impulse (c)).