- AUDCHF reversed from resistance area
- Further losses are likely
AUDCHF recently reversed down from the resistance area lying between the resistance level 0.7250 (monthly high from February) and the upper daily Bollinger Band.
The downward reversal from this resistance area completed the previous extended medium-term downward ABC correction (2) from the start of January.
AUDCHF is expected to fall further and re-test the next support level 0.7100.