• AUDUSD broke resistance area
• Likely to rise further
AUDUSD recently broke sharply through the resistance area lying between the key resistance level 0.7440 (former support level from May) and the 38.2% Fibonacci correction of the previous sharp downward impulse C from June.
The breakout of this resistance area accelerated the active minor impulse wave (i) of the medium-term impulse wave (3) from the start of June.
AUDUSD is likely to rise further and re-test the next resistance level 0.7500 (target price for the completion of the active impulse wave (i)).