NZD/JPY falling inside minor impulse wave C Next sell target - 76…
AUD/CHF rising inside minor C-wave
- AUD/CHF rising inside minor C-wave
- Next sell target - 0.7400
AUD/CHF has been falling sharply in the last few trading sessions inside the minor C-wave of the intermediate ABC correction (2) from the middle of September. The price earlier broke through the two consecutive support levels 0.7580 (low of the earlier wave A) and 0.7510 (monthly low from August). The breakout of these support levels accelerated the active waves C and (2). AUD/CHF is expected to fall to the next ell target at the next support level 0.7400.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.