December 08, 2020 at 03:50PM
• AUDCHF broke support area
• Likely to fall to 0.6500
AUDCHF recently broke the support area lying between the support level 0.6600 (former resistance from October and the low of the previous daily Morning Star from the start of November).
The breakout of the support level 0.6600 coincided with the breakout of the 38.2% Fibonacci correction of the previous upward impulse (c) from the end of October.
AUDCHF is expected to fall further toward the next support level 0.6500 (61.8% Fibonacci correction of the aforementioned impulse (c)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audchf-wave-analysis-8-december-2020-20201208/
Selected by fonecable.com
- Bitcoin Outlook: Bullish Scenario May Play Out if Key Technical Support Holds
- AUD/USD Rate Faces Australia CPI Report & Fed Rate Decision
- Trading Earnings Season: 3 Steps for Using Earnings Reports
- Forex Vs Stocks: Top Differences & How to Trade Them
- How to Learn Technical Analysis with DailyFX