Will the CHF bounce back down from the resistance?
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/AUD broke resistance zone
- EUR/AUD broke resistance zone
- Next buy target - 1.5640
EUR/AUD continues to rise after the earlier breakout of the resistance zone lying between the resistance level 1.55000 (which stopped earlier waves 4 and A, as can be seen below) and the resistance trendline of the daily down channel from the end of April. The breakout of this resistance zone accelerated the active medium-term ABC correction (4) from the start of June. EUR/AUD is expected to rise further toward the next buy target at the next resistance level 1.5640 (former support from February and March).
Dmitry Chernovolov
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