AUDUSD Wave Analysis – 12 February, 2020

AUDUSD reversed from support area
Likely to rise to 0.6775

AUDUSD recently reversed up from the support area lying between the long-term support level 0.6675 (which has been reversing the price from the start of 2019) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the earlier short-term impulse wave (i) from last month.

Given the bullish Stochastic divergence – AUDUSD is likely to rise further toward the next resistance level 0.6775 (top of the previous correction (iv)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Next General Motors Wave Analysis – 12 February, 2020 »

Previous « The worst for China could be over

Published by

The FxPro Tech Analysis Team

Tags: AUDUSD

6 years ago

The funeral for Gold has been postponed
The Supreme Court, with its scepticism about the legality of tariffs, has allowed the shiny…
Crypto bulls fail to maintain momentum
Crypto market stabilises after decline; Bitcoin rebounds but faces pressure. Mixed investor sentiment and notable…
Verbal interventions do not help yen
The weak yen and euro boost the USD, as central banks remain cautious and global…