- AUDCHF reversed from resistance zone
- Likely to fall to support level 0.5235
AUDCHF currency pair recently reversed down from the resistance area between the major resistance level 0.5375 (former multi-month low from last August), the upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from February.
The downward reversal from this resistance zone stopped the previous impulse wave C of the short-term ABC correction 4 from the start of April.
Given the strength of the resistance level 0.5375, AUDCHF currency pair can be expected to fall to the next support level 0.5235 (low of the previous correction b).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
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Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.