Technical analysis

AUDCHF Wave Analysis 1 December, 2020

AUDCHF Wave Analysis 1 December, 2020

• AUDCHF reversed from major resistance level 0.6700

• Likely to fall to 0.6600

AUDCHF continues to fall after the pair failed to break above the multi-month resistance level 0.6700 (which has been reversing the pair from June) – standing near the upper daily Bollinger Band.

The downward reversal from the resistance level 0.6700 started the active medium-term downward impulse wave (3).

AUDCHF is expected to fall further toward the next support level 0.6600 (low of the daily Morning Star from the start of November).

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