LeoPrime Daily Market Analysis

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AUDCHF falling inside wave 2 ; Likely to fall to 0.66500

AUDCHF continues to fall inside the sharp downward corrective wave 2- which started earlier from the resistance area lying at the intersection of the key resistance level 0.6850 (former monthly high from September), upper daily Bollinger Band and the 50% Fibonacci retracement of the previous extended downward impulse (C) from May. Given the rising bullish Swiss Franc sentiment – AUDCHF is likely to remain under bearish pressure and to extend the losses toward the next support level 0.6650 (low of the previous wave (B) from the end of September and the target price for the completion of the active correction 2).

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