LeoPrime Daily Market Analysis

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AUDCHF reversed from support area; Likely to rise to 0.65000

AUDCHF continues to rise after the earlier upward reversal with the daily Japanese candlestick reversal pattern Bullish Engulfing from the support area lying between the support level 0.64000 (which reversed the price in April) , lower daily Bollinger band and the 61.8% Fibonacci correction of the upward impulse C from the start of May. Given the rising Australian dollar bullishness seen across the FX markets today, AUDCHF is likely to extend the gains toward the next resistance level 0.65000 (former strong support from the start of September)

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