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 zone
2019-11-11 • Updated
- 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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