LeoPrime Daily Market Analysis

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AUDCHF reversed from support level 0.65150; Likely to rise to resistance level 0.67000.

 

AUDCHF recently reversed up from the strong support level 0.65150 (which has been repeatedly reversing the pair from last August, as can be seen from the daily AUDCHF chart below), standing close to the lower daily Bollinger Band. The upward reversal from the support level 0.65150 started the active medium term upward impulse wave (3). Given the strongly bearish Swiss franc sentiment seen across the FX markets lately, AUDCHF currency pair can be expected to rise further toward the next resistance level 0.67000.

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