AUDUSD: ⬆️ Buy
– AUDUSD reversed from support area
– Likely to rise to resistance level 0.7265
AUDUSD currency pair recently reversed from the support area between the key support level 0.7100 (which has been reversing the price from the end of April), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from April.
The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Piercing Line.
Given the clear daily uptrend and the bearish US dollar sentiment seen today across the FX markets, AUDUSD currency pair can be expected to rise to the next resistance level 0.7265 (top of the previous impulse wave 3).