AUDUSD currency pair can be expected to rise toward the next resistance level 0.6750.
– AUDUSD broke resistance area
– Likely to rise to resistance level 0.6750
AUDUSD currency pair under the bullish pressure after breaking the resistance area located at the intersection of the resistance level 0.6625 (former support from June, which stopped the previous impulse wave (1)) and the 61.8% Fibonacci correction of the downward impulse (C) from the start of July. The breakout of this this resistance area accelerated the active intermediate impulse wave (3), which belongs to the higher order impulse wave 3 from the start of August.
Given continuation of the strongly bearish US dollar sentiment seen across the currency markets today, AUDUSD currency pair can be expected to rise further toward the next resistance level 0.6750 – followed by the strong resistance at 0.6800 (top of the previous wave (B)).
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