November 08, 2018 at 02:21PM
- AUDCHF broke resistance zone
- Further gains are likely
AUDCHF continues to rise after the recent breakout of the resistance area lying at the intersection of the pivotal resistance level 0.7270 (former multi-month support level) and the resistance trendline of the daily up channel from September.
The breakout of this resistance zone should accelerate the active impulse wave (C) – which belongs to the long-term ABC correction ② from September.
AUDCHF is like to rise further and re-test the next resistance level 0.7400 (which reversed the price multiple times in July and also in August).
From: Wave Tech Analysis https://fxpro.news/market-snapshots/audchf-broke-resistance-zone-20181108/
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