AUDCHF Wave Analysis 7 May 2025

AUDCHF: ⬇️ Sell

– AUDCHF reversed from resistance zone

– Likely to fall to support level 0.5235

AUDCHF currency pair recently reversed down from the resistance area between the major resistance level 0.5375 (former multi-month low from last August), the upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from February.

The downward reversal from this resistance zone stopped the previous impulse wave C of the short-term ABC correction 4 from the start of April.

Given the strength of the resistance level 0.5375, AUDCHF currency pair can be expected to fall to the next support level 0.5235 (low of the previous correction b).