AUDCHF Technical Analysis 1 September, 2021

• AUDCHF broke resistance area
• Likely to rise to resistance level 0,6800

AUDCHF currency pair continues to rise after it broke the resistance area located between the resistance trendline of the daily down channel from the start of July and the 61,8% Fibonacci correction of the previous sharp downward impulse wave 5 from the start of August. The breakout of this resistance area accelerated the active short-term impulse wave 1.

Given the strongly bullish Australian dollar sentiment seen today, coupled with moderate Swiss franc bearishness – AUDCHF currency pair can be expected to rise further toward the next resistance level 0,6800 (top of the previous minor correction 4).

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