AUDUSD Analysis 13 August 2024

– AUDUSD reversed from support zone

– Likely to rise to resistance level 0.6650

AUDUSD currency pair recently reversed up from the powerful support area located between the long-term support level 0.6370 (which has been reversing the price from last November) and the lower daily Bollinger Band

The upward reversal from this support area created the daily Hammer which started the active ABC correction ii.

AUDUSD currency pair can be expected to rise further toward the next resistance level 0.6650 (target price for the completion of the active wave ii).