AUD/CHF reached buy target 0.7540
By: Dmitriy Chernovolov
- AUD/CHF reached buy target 0.7540
- Next buy target – 0.7700
AUD/CHF recently broke above the strong resistance level 0.7540 (which reversed earlier waves (A) and 1 and which was set as the buy target in our previous forecast for this currency pair). The breakout of this resistance level is likely to accelerate the active minor impulse wave 3 – which recently broke the daily down channel from March and which belongs to the intermediate (C)-wave from the middle of February. Strong support now stands at the support level 0.7540.
With the accelerating daily Momentum - AUD/CHF can be expected to rise further in the direction of the next buy target at the resistance level 0.7700. Bus stop-loss can be placed below the recently broken price level 0.7540.