Technical analysis

AUDCHF Wave Analysis – 2 September, 2021

• AUDCHF broke daily down channel

• Likely to rise to resistance level 0.6800

AUDCHF currency pair recently broke the resistance trendline of the daily down channel from the start of July.

The breakout of this resistance trendline accelerated the active short-term impulse wave 1 from the end of August – which is further accelerated by strong AUD sentiment.

AUDCHF can be expected to rise further toward the next resistance level 0.6800 (top of wave 4 from the start of August, former strong support from July).

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