AUD/CAD reversed from support zone
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- AUD/CAD reversed from support zone
- Next buy target - 1.0100
AUD/CAD today reversed up from the support zone lying between the key support level 1.0000, lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse wave (1) from the start of January, as can be seen below. The upward reversal from this support zone stopped the (c)-wave of the previous minor ABC correction 2 from the start of May.
Given the strength of the support level 1.0000, AUD/CAD can be expected to rise to the next buy target at the next resistance level 1.0100.
