AUDCHF – nearest target for upward movement 0.7510

Last week AUDCHF with strong upward candle broke above upper limit of bearish channel. Next resistance was at 0.7290 but it slowed bulls only for a moment. During Friday’s session upward movement was continued. Today after slight decline price reached a new local high.

Nearest resistance is at 0.7510 and as you can see at TF D1 it shouldn’t be easy to do. We have to expect rebound which could test 0.7290 level or even a new wave of falls. Nearest supports are located at 0.7290, 0.7000, 0.6750. Nearest strong resistance: 0.7510.

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Time-frame H4

Time-frame D1