The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GBP/AUD reversed from support area
- GBP/AUD reversed from support area
- Next buy target - 1.8500
GBP/AUD recently reversed up from the support area lying between the key support level 1.8200 (former support level from January which also reversed the previous intermediate impulse wave (A) earlier this month, as can be seen below), upper trendline of the daily up channel from January and the 38.2% Fibonacci retracement of the upward impulse (iii) from March. GBP/AUD is expected to rise toward the next buy target at next resistance level 1.8500.
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
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.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?