Market Snapshots

AUDUSD Wave Analysis – 09 April, 2020

AUDUSD Wave Analysis – 09 April, 2020
  • AUDUSD broke resistance area
  • Likely to rise to 0.6430

AUDUSD recently broke through resistance zone lying between the resistance level 0.6200 (which stopped the previous wave A in March) and the 61.8% Fibonacci correction of the previous sharp downward impulse 5 from last month.

The breakout of this resistance accelerated the active impulse wave C from the start of April – which belongs to ABC correction (2) from March.

AUDUSD is likely to rise further toward the next resistance level 0.6430 (former monthly low from February and the target for completion of wave C).

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