AUD/CAD falling inside sharp correction

AUD/CAD falling inside sharp correction

  • AUD/CAD falling inside sharp correction
  • Next sell target - 1.0000

 AUD/CAD recently reversed down from the resistance zone lying between the key resistance level 1.0200 (which reversed the previous (b)-wave in June of 2017) and the upper weekly Bollinger Band. The downward reversal from this resistance zone created the weekly Japanese candlesticks reversal pattern Shooting Star. AUD/CAD is likely to fall further toward the next sell target at the next support level 1.0000.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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