AUDUSD Wave Analysis – 1 June, 2020

• AUDUSD broke resistance level 0.6670

• Likely to rise to 0.6850

AUDUSD continues to rise after the earlier breakout of the resistance level 0.6670 (top of the previous corrective wave (4) from the start of March).

The breakout of the resistance level 0.6670 accelerated the active short-term impulse wave 3 – which belongs to the upward impulse sequence (C) from the start of May.

AUDUSD is likely to rise further toward the next resistance level 0.6850 (target price for the completion of the active impulse wave 3).