AUDCHF Wave Analysis 5 January, 2021
January 05, 2021 @ 18:36 +03:00
• AUDCHF reversed from pivotal support level 0.6735
• Likely to rise to 0.6825
AUDCHF recently reversed up from the pivotal support level 0.6735 (former powerful resistance from January, June and December of 2020 – as can be seen below).
The upward reversal from the support level 0.6735 started the active short-term upward impulse wave (iii) – which belongs to the impulse wave 3 from the start of December.
Given the predominant uptrend – AUDCHF is expected to rise further toward the next resistance level 0.6825 (which stopped the previous short-term impulse wave (i)).