AUD/CHF rising inside minor impulse wave (iii)

AUD/CHF rising inside minor impulse wave (iii)

  • AUD/CHF rising inside minor impulse wave (iii)
  • Next buy target - 0.7630

AUD/CHF has been rising in the last few trading sessions inside the minor impulse wave (iii), which started earlier from the support zone lying between the support level 0.7470 and the 38.2% Fibonacci correction level of the previous sharp upward impulse from the start of July. The upward reversal from this support area crated the daily Japanese candlesticks reversal pattern Morning Star. AUD/CHF is expected to rise to the next buy target at the next resistance level 0.7630 (top of the previous waves (ii) and (i)).



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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