Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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