What happened? It looks like the decline in EUR/CHF to 1…
AUD/CHF reversed from resistance zone
2019-11-11 • Updated
- AUD/CHF reversed from resistance zone
- Next sell target - 0.7270
AUD/CHF has been falling sharply in the last 2 trading sessions – following the earlier downward reversal from the resistance zone lying at the intersection of the key resistance level 0.7490 (previous powerful support level which stopped earlier waves (iv), a and (iii), as can be seen below) and the 61.8% Fibonacci correction of the previous upward impulse 1 from December (acting as resistance after it was broken).
AUD/CHF is expected to fall to the next sell target at the next resistance level 0.7270 (multi-month low from last December).
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
The US Dollar has been losing value against the Swiss franc for more than a month now. Let's examine where it might be going.
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