AUDUSD Wave Analysis – 1 February, 2022

• AUDUSD reversed from support zone

• Likely to rise to resistance level 0.7150

AUDUSD currency pair recently reversed up with the daily Bullish Engulfing the support zone lying between the round support level 0.7000 (previous monthly low from the start of December) and the lower daily Bollinger Band.

The upward reversal from this support are stopped the earlier minor impulse wave 3 of the impulse wave (3) from

Given the strength of the aforementioned support zone – AUDUSD can be expected to rise further toward the next resistance level 0.7150 (former support from the start of January).