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 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).
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.