AUD/CAD reversed from powerful support level 1.0050

AUD/CAD reversed from powerful support level 1.0050

  • AUD/CAD reversed from powerful support level 1.0050
  • Next buy target - 1.0200

AUD/CAD recently reversed up from the powerful support level 1.0050 (former strong resistance level which reversed the price in July and August, as can be seen from the daily AUD/CAD chart below). The upward reversal from this support zone created the daily Japanese candlestick reversal pattern Morning Star – the middle candle of which is the daily Doji.  AUD/CAD is likely to rise toward the next buy target at the next resistance level 1.0200.

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