LeoPrime Daily Market Analysis

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AUDCHF falling inside impulse wave 3; Likely to fall to support level 0.66350

AUDCHF continues to fall inside the minor impulse wave 3, which started earlier with the daily Bearish Engulfing from the resistance area located between the key resistance level 0.67850 (former support from the start of July), upper daily Bollinger band and the 50% Fibonacci retracement level of the previous sharp downward impulse wave 1 from the start of July. Given strengthening bearish Australian dollar sentiment seen across the FX markets today- AUDCHF currency pair can be expected to fall further toward the next support level 0.66350 (low of the previous sharp impulse wave 1).

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