AUDUSD Wave Analysis 24 December, 2020

• AUDUSD rising inside impulse wave (5)

• Likely to reach 0.7645

AUDUSD continues to rise inside the upward impulse wave (5) – which started earlier from the key support level 0.7500 intersecting with the daily up channel from October.

The active impulse wave (5) belongs to the longer-term upward impulse sequence 3 from the start of November.

Given the overriding uptrend that can be seen on the daily charts – AUDUSD is expected to rise further toward the next resistance level 0.7645 (top of the previous impulses wave 5).