Aussie Selloff Ahead?
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/NZD reversed from support area
2021-11-11 • Updated
- AUD/NZD reversed from support area
- Next buy target - 1.0970
AUD/NZD continues to rise after the earlier upward reversal from the support area located between the key support level 1.0810 (which reversed the previous minor correction 2 at the end of March, as can be seen below), lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward impulse (v) from the end of February.
If the pair closes today near the current levels – it will form the daily Japanese candlesticks reversal pattern Morning Star. AUD/NZD is expected to rise to the next buy target at the resistance level 1.0970.
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