LeoPrime Daily Market Analysis

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AUDCHF reversed from support area 0.65000; Likely to rise to 0.67000

AUDCHF continues to rise inside the short-term correction 2 – which started earlier from the support area lying between the support level 0.65000 (which has been reversing the price from June) and the 38.2% Fibonacci correction of the upward price impulse (C) from May. Given the predominantly bearish Swiss franc sentiment seen across the currency markets today – AUDCHF is likely to extend the gains toward the next resistance level 0.67000 (top of the previous correction (2) and the target for the completion of wave 2).

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