AUDUSD Wave Analysis – 15 September, 2020

• AUDUSD reversed from support level 0.7200

• Likely to rise to 0.7400

AUDUSD recently reversed up from the key support level 0.7200 (low of the previous wave A, which reversed the price multiple times in July and August).

The upward reversal from the support level 0.7200 started the active medium-term upward impulse sequence (3).

Given the clear daily uptrend, AUDUSD is likely to rise further toward the next resistance level 0.7400 (top of the previous impulse waves 5 and (5) from the end of August).