Market Snapshots

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))

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