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AUDCHF currency pair recently reversed down from the resistance area located at the intersection of the resistance level 0.70600 (which has been reversing the pair from the end of March) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the previous impulse wave 3. Given the strength of the aforementioned resistance area and the strong Swiss franc inflows – AUDCHF currency pair can be expected to fall further toward the next support level 0.69300.
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