AUD/CAD reversed from support zone

AUD/CAD reversed from support zone

2019-11-11 • Updated

  • AUD/CAD reversed from support zone
  • Next buy target - 1.0200

NZD/CHF today reversed up from the support zone lying between the parity (which has been reversing the price from the start of April, as can be seen below), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from January. The upward reversal from this support zone continues the active minor impulse waves 3 and (3) – both of which started from the same support area in May and April. If the pair closes today near the current levels it will form the daily Bullish Engulfing. AUD/CAD is expected to rise to the next buy target at the next resistance level 1.0200.

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