• AUDCHF reversed from support area
• Likely to rise to resistance level 0.7245

AUDCHF currency pair recently reversed up from the support area lying between the round support level 0.7000, support trendline of the daily up channel from October and the 50% Fibonacci correction of the previous sharp upward impulse from the end of January. The upward reversal from this support area is aligned with the active intermediate impulse wave (3) from January.

Given the prevailing uptrend that can be seen on the daily AUDCHF and the continuation of the simultaneously bullish AUD and bearish CHF sentiment seen across the FX markets today – AUDCHF currency pair is likely to rise further toward the next round resistance level 0.7245 (top of the previous impulse wave from the end of February).