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AUDUSD Wave Analysis – 27 December, 2019

  • AUDUSD broke key resistance level 0.6930
  • Likely to rise to 0.7080

AUDUSD recently broke above the key resistance level 0.6930 (monthly high from October and November – which also stopped the earlier wave (A)).

The breakout of the resistance level 0.6930 coincided with the breakout of the 61.8% Fibonacci correction level of the previous sharp downward impulse from July.q

AUDUSD is expected to rise further in the active impulse wave 3 toward the next resistance level 0.7080 (monthly high from July).

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