STOCKS: reversal chart patterns
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
AUD/USD reversed from resistance area
- AUD/USD reversed from resistance area
- Next sell target - 0.7500
AUD/USD recently reversed down from the resistance area lying between the pivotal resistance level 0.7640 (former support from March), upper daily Bollinger Band and the 38.2% Fibonacci correction of the extended downward correction from the end of January. The downward reversal from this resistance area stopped the previous short-term correction (C). AUD/USD is expected to fall further toward the sell target at the next support level 0.7500.
Dmitry Chernovolov
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