LeoPrime Daily Market Analysis

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AUDCHF broke resistance zone; Likely to rise to resistance level 0.68000

AUDCHF continues to rise strongly after recently breaking the resistance zone lying between the resistance trendline of the daily down channel from the start of August and the 61.8% Fibonacci correction of the downward price impulse wave 5 from the middle of August. The breakout of this resistance zone accelerated active minor impulse wave (i). Given the accelerating upward impulse wave (1) and the strengthening AUD bullishness seen today, AUDCHF can be expected to rise further toward the next resistance level 0.68000 (top of wave 4 from the start of August).

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