AUD/CAD reversed from major support level 0.9580

AUD/CAD reversed from major support level 0.9580

  • AUD/CAD reversed from major support level 0.9580
  • Next buy target 0.9700

AUD/CAD recently reversed up from the powerful, long-term support level 0.9580 (which also stopped the sharp downtrend at the start of December, as can be seen below). The support area near the support level 0.9580 was strengthened by the lower daily Bollinger Band. With the oversold daily Stochastic, AUD/CAD is expected to rise further toward the next buy target at the next resistance level 0.9700 (top of wave (iv)).

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