• AUDCHF reversed from resistance level 0.7070
• Likely to fall to support level 0.690
AUDCHF currency pair recently reversed down from the strong resistance level 0.7070 (the previous monthly high from March) – ending the earlier wave (C).
The resistance zone near the resistance level 1.2450 was strengthened by the upper daily Bollinger Band and resistance trendline of the daily up channel from February.
AUDCHF can be expected to fall further toward the next support level 0.690 (low of wave (iv) from the start of this month).