AUDCHF - EXPECTING RESISTANCE BREAKOUTSymbol - AUDCHF
The AUDCHF pair is currently trading near a resistance zone between 0.5712 - 0.5725. The technical outlook remains positive, supported by the ongoing uptrend and the weakening of US dollar. After breaking through resistance, the price may retest the previously breached level, consolidate above it, and establish an interim low, signaling potential for further momentum.
From a technical perspective, attention is now focused on the resistance zone at 0.5712 – 0.5725 A breakout above this resistance zone could trigger further bullish momentum, with the price potentially reaching the trendline resistance at 0.5780 After that, I am expecting the trend to continue, potentially pushing the pair towards 0.5830 and beyond.
Resistance levels: 0.5727 (buy trigger), 0.5780
Support levels: 0.5675
Prior to breaking through the resistance, the currency pair may test the support level at 0.5675 However, a decisive move above 0.5727 could act as the catalyst for further upward movement, with the trend potentially continuing toward 0.5780 - 0.5830 and beyond.
