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Amazon CDRs Fall to Next Support Level Amid Ongoing Impulse Wave

Guavy AI Editorial Team
Instruments
AMZN
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Amazon's Canadian Depositary Receipts (CDRs) are currently falling inside an impulse wave c, which started from the resistance level of 277.50 in May.

The sharp uptrend was stopped at this key level, and it has been further strengthened by the upper daily Bollinger Band.

As a result, Amazon is expected to fall further to its next support level at 250.00, which is also the target for completing the active minor Short wave according to FxPro's analysis.

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