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 - 0.7500
AUD/USD recently reversed up sharply from the support area lying between the key support level 0.7350 (which also reversed the price sharply in the middle of 2017) and the lower weekly Bollinger Band. Given the strength of this support area and the clear bullish divergence on the weekly Stochastic indictor, AUD/USD is expected to rise further toward the next buy target at the next resistance level 0.7500.
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