EUR/USD: 'High Wave' points to decline
The market is likely going to test the 34 Moving Average. If a pullback from this line happens next, bulls will probably try to reach...
AUD/CHF reversed from powerful resistance level 0.7290
- AUD/CHF reversed from powerful resistance level 0.7290
- Next sell target - 0.7150
AUD/CHF continues to fall after the earlier downward reversal from the powerful resistance level 0.7290 (former major support level which had been reversing all downward impulse waves from the start of August, as can be seen from the daily AUD/CHF chart below). If the pair closes today near the current levels it will form the daily Japanese candlesticks reversal pattern Evening Star.
AUD/CHF is expected to fall in the active intermediate impulse wave (3) toward the next sell target at the support level 0.7150.
Dmitry Chernovolov
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