AUD/CHF rising inside minor impulse wave 3

AUD/CHF rising inside minor impulse wave 3

  • AUD/CHF rising inside minor impulse wave 3
  • Next buy target - 0.7400

AUD/CHF recently reversed up from the support zone lying between the pivotal support level 0.7280 (which has been reversing the price from the start of May, as can be seen below), lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward price impulse 1 from the start of June. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing. AUD/CHF is expected to rise to the next buy target at the next resistance level 0.7400.



Morning brief for May 30

 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…

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