AUDCHF – an interesting technical picture on weekly chart. Price for over 2 years relatively respect the edges of the growth channel. Since the beginning of March, there has been a third reflection from the bottom edge. Although the price has moved sideways for several weeks, however, the long bottom shadows indicate that local support in the area of 0.7450 is respected. Yesterday there was a strong price increase after great data on retail sales from Australia. It seems, therefore, that the demand side has a chance to continue growing. The breakout over the ongoing consolidation could open the way to the high of the beginning of the year.
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