Categories: Technical analysis

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).

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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Tags: AUDUSD

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