AUDCHF Technical Analysis 7 September, 2021

• AUDCHF reversed from resistance zone
• Likely to fall to support level 0,6700

AUDCHF currency pair recently reversed down from the resistance zone lying between key resistance level 0.6800 (which has been reversing the price from the end of July), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward price impulse 3 from the start of July. The downward reversal from this resistance zone stopped the previous minor correction 4 from the middle of August.

Given the overbought reading on the daily Stochastic indicator and the strength of the active downtrend – AUDCHF currency pair can be expected to fall further toward the next support level 0,6700.

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