AUD/USD reversed from support area

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).




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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