The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
EUR/AUD broke resistance zone
- EUR/AUD broke resistance zone
- Next buy target - 1.6130
EUR/AUD recently broke through the resistance zone lying between the key resistance level 1.5870 (which has reversed the price multiple times from the start of July, as can be seen below) and the resistance trendline from last March. The breakout of this resistance zone accelerated the active intermediate impulse wave (C) from June. EUR/AUD is expected to rise further toward the next buy target at the next resistance level 1.6130 (monthly high from April).
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
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
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.