AUDUSD Wave Analysis – 19 July, 2022

• AUDUSD broke key resistance level 0.6870

• Likely to rise to resistance level 0.6960

AUDUSD currency pair recently broke above the key resistance level 0.6870 (which stopped wave (iv) at the start of this month).

The breakout of the resistance level 0.6870 coincided with the breakout of the 50% Fibonacci correction of the downward impulse from June.

AUDUSD can be expected to rise further toward the next resistance level 0.6960 (target price for the completion of the active correction (ii)).