AUDUSD Wave Analysis – 27 May, 2022

• AUDUSD broke resistance level 0.71000
• Likely to rise to resistance level 0.7250

AUDUSD currency pair recently broke the resistance level 0.7100 (which stopped the earlier minor wave A) intersecting with the 61.8% Fibonacci correction of the downward impulse 5 from the start of May.

The breakout of the resistance level 0.71000 accelerated the C-wave of the active ABC correction (2).

AUDUSD can be expected to rise further toward the next resistance level 0.7250 (top of wave 4 from the start of this month).