• AUD/CHF broke long-term support level 0.7140
• Further losses are likely
AUD/CHF continues to fall inside the short-term impulse wave 3 – which recently broke through the long-term support level 0.7140 (which stopped the sharp downtrend in June of 2017, as can be seen below).
The breakout of the support level 0.7140 accelerated the active short-term impulse wave 3 which belongs to the medium-term impulse sequence (3) from last May.
AUD/CHF is expected to fall further and retest the next round support level 0.7000.