Technical analysis

AUDCHF Wave Analysis – 8 July, 2021

• AUDCHF broke support level 0.6870
• Likely to fall to support level 0.6750

AUDCHF currency pair recently broke the support level 0.6870 (which stopped the previous minor impulse wave 1 last month).

The breakout of the support level 0.6870 accelerated the active short-term impulse wave 3, which belongs to the intermediate impulse wave (C) from the middle of April.

AUDCHF can be expected to fall further toward the next support level 0.6750 (likely price for the completion of the active impulse wave 3, low of wave (4) from January).

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