AUD/USD reversed from support zone

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.

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