The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
AUD/USD reversed from support zone
- AUD/USD reversed from support zone
- Next buy target - 0.7440
AUD/USD recently reversed up from the support zone lying between the major support level 0.7320 (which also reversed the price in May of 2017) and the lower weekly Bollinger Band. The upward reversal from this support zone lying stopped the earlier impulse wave C. Given the oversold weekly Stochastic, AUD/USD is expected to rise further toward the next buy target at the next resistance level 0.7440.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?