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AUD/CAD reversed from support zone

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  • AUD/CAD reversed from support zone
  • Next buy target - 0.9810

AUD/CAD today reversed up sharply from the support zone surrounding the powerful support level 0.9710. This support level has been reversing the price from July, as can be seen below. The support zone near the support level 0.9710 was strengthened by the lower daily Bollinger Band. If the pair closes today near the current levels it will then from the daily Bullish Engulfing. Given the oversold daily Stochastic - AUD/CAD is expected to rise to the next buy target at the next resistance level 0.9810.

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