AUD/CHF: buy target - 0.7600
- AUD/CHF rises inside minor C-wave
- Next buy target - 0.7600
AUD/CHF recently reversed up from the support zone lying between the the support level 0.7200 (which was set as the sell target in our previous report for this currency pair), the lower daily Bollinger Band and the 50% Fibonacci Correction of the previous sharp corrective A-wave from January (belonging to the intermediate ABC correction (2)). The upward reversal from this support zone stopped the previous B-wave with the strong Japanese candlesticks reversal pattern – Double-Doji Morning Star (highlighted below).
AUD/CHF is likely to continue to rise in the active C-wave toward the next buy target 0.7600. Buy stop-loss can be placed below the support level 0.7400.