FBS - Analytics


    555.25 6.25/10
    84% of positive reviews

    AUD/USD: buy targets - 0.7600 and 0.7700

    • AUD/USD reached buy target 0.7500
    • Next buy targets - 0.7600 and 0.7700

    AUD/USD recently broke up sharply through the resistance zone lying at the intersection for the resistance level 0.7500 (which was set as the buy target in our previous forecast for this currency pair) and the 50% Fibonacci retracement of the previous sharp extended downward impulse from last May. The breakout of this resistance zone accelerated the active minor impulse waves (iii) and 3 – both of which belong to the sharp intermediate (C)-wave from the middle of January.

    AUD/USD is likely to rise further to the next buy targets - 0.7600 (former strong support from last June) and 0.7700. Strong support now stands at 0.7500.

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree