Technical analysis

AUDUSD Wave Analysis – 1 September, 2021

• AUDUSD broke resistance zone

• Likely to rise to resistance level 0.7400

AUDUSD currency pair recently broke the resistance zone located between the pivotal resistance level 0.7300 (former support from the middle of July) and the 38.2% Fibonacci correction of the downward impulse from July.

The breakout of this resistance zone accelerated the active medium-term impulse wave (1).

AUDUSD can be expected to rise further toward the next resistance level 0.7400 (top of wave (4) from the start of August).

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