Market Snapshots

AUDUSD Wave Analysis – 12 December, 2019

AUDUSD Wave Analysis – 12 December, 2019
  • AUDUSD broke resistance area
  • Likely to rise to 0.6930

AUDUSD recently broke through the resistance area lying between the resistance level 0.6865 (top of the previous wave (a)) – intersecting with the resistance trendline of the daily down channel from last year.

The breakout of this resistance area accelerated the active short-term impulse wave 3 from the end of November.

AUDUSD is expected to rise further toward the next resistance level 0.6930 (top of the previous short-term impulse wave 1).

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