Technical analysis

AUDCHF Wave Analysis – 2 July, 2019

AUDCHF Wave Analysis – 2 July, 2019
  • AUDCHF broke resistance area
  • Further gains are likely

AUDCHF recently broke the resistance area lying between the key resistance level 0.6890 (which reversed the price in the middle of June) and the 50% Fibonacci correction of the previous downward impulse from the end of May.

The breakout of this resistance area accelerated the active short-term correction (ii).

AUDCHF is expected to rise further in the active wave (ii) and retest the next round resistance level 0.7000 (former resistance from May).

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