LeoPrime Daily Market Analysis

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AUDUSD reversed from 0.66750 support area; Likely to rise to 0.67250

AUDUSD recently reversed up from the support area lying between the support level 0.66750 (which stopped the extended downtrend in October) and the lower daily Bollinger Band. The same area created the daily Morning Star earlier this month – as can be seen from the daily AUDUSD chart below. Given the moderate bullish Australian dollar sentient seen across the markets today– AUDUSD is likely to extend the gains toward the next resistance level 0.67250 (former support from the middle of October).

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