AUDCHF Wave Analysis 18 December, 2020

December 18, 2020 at 03:46PM

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• AUDCHF reversed from long-term resistance level 0.6740

• Likely to fall to 0.6700

AUDCHF recently reversed down from the strong long-term resistance level 0.6740 (former multi-month resistance from May).

The resistance area near the resistance level 0.6740 was further strengthened by the upper weekly Bollinger Band.

Given the overbought weekly Stochastic and the moderately bullish CHF sentiment – AUDCHF is expected to fall further toward the next support level 0.6700.

From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audchf-wave-analysis-18-december-2020-20201218/
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December 18, 2020 at 03:46PM

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