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AUDUSD Wave Analysis – 28 August, 2020

AUDUSD Wave Analysis – 28 August, 2020

• AUDUSD broke resistance level 0.7250

• Likely to rise to 0.7400

AUDUSD recently broke sharply above the resistance level 0.7250 (which stopped the two previous impulse waves (5) and (1) – as can be seen from the daily AUDUSD chart below).

The breakout of the resistance level 0.7250 accelerated the active medium-term upward impulse wave (3).

AUDUSD is expected to rise further toward the next resistance level 0.7400 (projected price for the completion of the active impulse wave (3)).

AUDUSD Wave Analysis – 28 August, 2020


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