AUD/USD reversed from support area

AUD/USD reversed from support area

2019-11-11 • Updated

  • 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).


Aussie Selloff Ahead?
Aussie Selloff Ahead?

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.

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