AUD/NZD rising inside sharp C-wave

AUD/NZD rising inside sharp C-wave

  • AUD/NZD rising inside sharp C-wave
  • Next buy target - 1.0800

AUD/NZD has been rising sharply in the last few trading sessions inside the sharp minor C-wave of the intermediate ABC correction (2) from the end of June. The price earlier broke through the two consecutive Fibonacci correction levels (50% and 61.8%) of the previous sharp downward impulse from the start of May. AUD/NZD can then be expected to rise further toward the next buy target at the next resistance level 1.0800 (target price calculated for the termination of the active correction (2)).


GBP/USD: "V-Top" pattern

We're likely going to have a downward correction. It's likely that bears are going to test the closest support at 1.4066 during the day...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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