The demand for AUDCHF continuous to grow. If today’s candle day will also have a green corpus, this will mean 6 consecutive sessions in a row. However, this upward movement should continue to be perceived as a correction. The downward trend on the AUDCHF began in February and during this period we can clearly see dynamic growth corrections, which after a few day candles returned to the downward trend.
The success for the demand will be reaching the important resistance of 0.7400. In this area next week there will be a downward trend line, so its breakout will be extremely difficult.
Possible scenarios for AUDCHF
The current upward movement for this moment should be treated as a correction. Therefore, it is a good idea to focus on signals (e.g. Price Action) announcing the return of the fall. The maximum increase may be 0.7400. Even if the bounce from this level will not lead to a new downward wave, at least it should induce a deeper downward movement.