NZD/JPY falling inside minor impulse wave C Next sell target - 76…
AUD/USD reversed from support area
- AUD/USD reversed from support area
- Next buy target - 0.7720
AUD/USD recently reversed up from the support area lying between the support level 0.7510 (former resistance level from May) and the lower daily Bollinger Band. The upward reversal from this support area completed the previous primary ABC correction Ⓑ from the start of Speeder. AUD/USD is expected to rise further toward the next buy target at the next resistance level 0.7720 (low of the previous wave 2 from November).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.