AUD/CAD reversed from support zone

AUD/CAD reversed from support zone

  • AUD/CAD reversed from support zone
  • Next buy target - 1.0100

AUD/CAD today reversed up from the support zone lying between the key support level 1.0000, lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse wave (1) from the start of January, as can be seen below. The upward reversal from this support zone stopped the (c)-wave of the previous minor ABC correction 2 from the start of May.

Given the strength of the support level 1.0000, AUD/CAD can be expected to rise to the next buy target at the next resistance level 1.0100.

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