• AUDCHF reversed from resistance zone
• Likely to fall to support level 0.6865
AUDCHF currency pair recently reversed down from the resistance zone lying between the key round resistance level 0.700 (which also reversed the price at the start of June), upper daily Bollinger Band and the 38.2% Fibonacci correction level of the previous downward impulse form the middle of March. The downward reversal form this resistance zone continues the active downward impulse wave (C).
Given the strengthening bullish Swiss franc sentiment – AUDCHF currency pair can be expected to fall further toward the next support level 0.6865 (previous monthly low from June).