AUDUSD: ⬆️ Buy
– AUDUSD reversed from support zone
– Likely to rise to resistance level 0.7160
AUDUSD currency pair recently reversed from the support area between the key support level 0.6965 (low of the eagerly wave 2), support trendline from November, lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from December.
The upward reversal from this support zone continues the active short-term impulse wave 3 – which belongs to the intermediate impulse wave (C) from November.
Given the overriding daily uptrend, AUDUSD currency pair can be expected to rise to the next resistance level 0.7160 (which stopped previous wave 1).