The AUDCHF faces key support – Analysis – 2-12-2021

The AUDCHF pair ended its recent negative attack by facing historical support at 0.6515, to force it to stop the negative bleeding and form sideways fluctuation as appears on the chart.

The upcoming scenario depends on the stability of the mentioned support line, as succeeding to hold above this support will increase the chances of forming bullish rally in order to reach 0.6670 followed by moving towards the moving average 55 at 0.6775, while declining below the support line will open the way to resume the negative attack, to expect suffering additional losses that might extend towards 0.6445 followed by reaching 0.6300 in the upcoming period.

The expected trading range for today is between 0.6515 and 0.6670

The expected trend for today: Bullish