AUD/CAD reversed from resistance zone
- AUD/CAD reversed from resistance zone
- Next sell target - 0.9900
AUD/CAD has been under strong bearish pressure lately - following the earlier sharp downward reversal from the resistance zone lying at the intersection of the major resistance level 1.0190 (which has been reversing the price from last December, as can see below) and the upper weekly Bollinger Band.
The downward reversal from the aforementioned resistance zone created the weekly Japanese candlesticks reversal pattern Falling Star (this resistance zone also created the weekly Evening Star in December). AUD/CAD is expected to fall down further to the next sell target at the support level 0.9900.