Market Snapshots

AUDUSD Wave Analysis – 29 April, 2020

AUDUSD Wave Analysis – 29 April, 2020
  • AUDUSD broke resistance area
  • Likely to rise up to 0.66800

AUDUSD recently broke the resistance area lying between the resistance level 0.6400 (former support from March, which stopped the previous impulse wave (i)) and the 61.8% Fibonacci correction of the earlier downward impulse wave (3) from December.

The breakout of this resistance area accelerated the active impulse wave C – which belongs to wave (4) from March.

AUDUSD is expected to rise further toward the next pivotal resistance level 0.6680 (top of the previous correction 4 and the target for the completion of wave C)

 

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