AUDUSD Wave Analysis 27 November, 2020

• AUDUSD approaching key resistance level 0.7410

• Likely to rise to 0.7600

AUDUSD continues to rise inside the medium-term upward impulse wave (3) which started earlier from the key support level 0.7240 (former monthly high from October).

The pair is currently approaching the key resistance level 0.7410 (which stopped the previous sharp uptrend in August).

If the pair breaks above the resistance level 0.7410 – AUDUSD can then rise toward the next resistance level 0.7600 (target price for the completion of the active higher-order impulse sequence ③).