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 - 0.7900
AUD/USD recently reversed up from the support zone lying between the support level 0.7820 (low of the previous corrective wave 4), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward price impulse from June. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer. AUD/USD is expected to rise to the next buy target at the next resistance level 0.7900 (former support level from August).
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