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/USD reversed from resistance area
2019-11-11 • Updated
- 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.
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