AUD/CAD reached buy target 1.0330

AUD/CAD reached buy target 1.0330

  • AUD/CAD reached buy target 1.0330
  • Next sell target - 1.0120

AUD/CAD continues to fall after the earlier sharp downward reversal from the key resistance level 1.0330
(which reversed the earlier impulse waves (5) and (1), and which was set as the buy target in our previous forecast for this currency pair). The resistance zone near the resistance level 1.0330 is strengthened by the upper daily Bollinger Band.  If the pair closes today near the current levels it will create the daily reversal pattern Bearish Engulfing.

With the daily Stochastic still in the overbought zone - AUD/CAD is expected to fall to the next sell target at the next support level 1.0120 (low of the previous minor correction 2).


AUD/USD on its way to reach new highs

AUD/USD has been trading in a rebound made from the 200 SMA at H1 chart, which is helping to strengthen the bullish bias across the board and put the pair in the scenario to reach the Fibonacci zone of -23…


Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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