AUD/CAD reversed from combined support area

AUD/CAD reversed from combined support area

  • AUD/CAD reversed from combined support area
  • Next buy target - 0.9800          

AUD/CAD recently reversed up from the combined support area lying between the key support level 0.9570 (which stopped the sharp downtrend in the middle of May, as can be seen below) and the lower daily Bollinger Band. The upward reversal from this support area stopped the previous medium-term ABC correction (2). AUD/CAD is expected to rise further toward the next buy target at the next resistance level 0.9800 (which reversed the price multiple times in July).

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