AUDCHF Wave Analysis 18 February, 2021

• AUDCHF reversed from support level 0,6910

• Likely to rise to 0,7000.

AUDCHF recently reversed up from the support level 0,6910 (former resistance from the middle of January, acting as the support after it was broken previously).

The upward reversal from the support level 0,6910 continues the active short-term impulse wave 3  which belongs to wave (3) from the end of June.

Given the continued outflows from the Swiss franc on improved global risk sentiment- AUDCHF can be expected to rise further toward the next resistance level 0,7000.