AUD/CHF: sell target - 0.6700
By: Dmitriy Chernovolov
- AUD/CHF reversed from pivotal resistance level
- Next sell target - 0.6700
AUD/CHF continues to decline – following the earlier downward reversal from the resistance zone lying between the resistance level 0.6950 (former pivotal support level which reversed the pair in January and in July, as you can see below) and the 50% Fibonacci Correction of the previous sharp downward impulse wave (iii) from the start of August. The downward reversal from this resistance zone continues the active intermediate impulse wave (5) from March.
AUD/CHF is expected to fall further in the active impulse waves (iii) and 3 toward the next sell target at the support level 0.6700. Strong resistance remains at 0.6950.