EUR/USD reversed from support zone Next buy target - 1…
AUD/USD reversed from support zone
- AUD/USD reversed from support zone
- Next buy target - 0.8000
AUD/USD recently reversed up from the support zone lying between the support levels 0.7800, 0.7770, lower daily Bollinger Band and the 50% Fibonacci correction of the previous intermediate impulse wave (3) from the start of December. AUD/USD is expected to rise further toward the next buy target at the next round resistance level 0.8000 (target price for the completion of the active wave B).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.