Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
AUD/CHF broke strong support zone
- AUD/CHF broke strong support zone
- Next sell target - 0.7370
AUD/CHF continues to fall after the earlier sharp breakout of the strong support zone lying between the pivotal support level 0.7480 (which also reversed the previous waves 4 and (A), as can be seen below ) and the 61.8% Fibonacci correction of the previous sharp upward impulse from December. The breakout of this support accelerated the active minor impulse wave 3, which belongs to wave (C) from March.
AUD/CHF is expected to fall to the next sell target at the next support level 0.7370 (target price for the completion of the active impulse wave 3).
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.