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)).


GBP/CAD targeting lower levels

It seems the GBP/CAD looks forward to resume the bearish bias in the short-term, as it has been correcting the cycle started from May 18th and now, we can expect another leg higher to re-test the Fibonacci level of 50% at 1…


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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