FxPro analyst said that AUDUSD recently reversed up from the support area lying between the round support level 0.7000 (which stopped the weekly downtrend with the weekly Hammer in October) and the lower weekly Bollinger Band.
The upward reversal from this support area stopped the previous weekly downward impulse wave ③ from last December.
Given the strength of the aforementioned support area and the oversold reading on the weekly Stochastic indicator – AUDUSD is expected to rise further and re-test the next resistance level 0.7200.
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…
The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…
- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
This website uses cookies
