AUDUSD Wave Analysis 30 September 2024

– AUDUSD broke multi-month resistance level 0.6860

– Likely to rise to resistance level 0.7050

AUDUSD currency pair recently broke above the strong multi-month resistance level 0.6860, which stopped the sharp wave A at the end of last year.

The breakout of the resistance level 0.6860 accelerated the C-wave of the extended ABC correction (2) from 2023.

Given the continuation of the bearish US dollar sentiment, AUDUSD currency pair can be expected to rise further to the next resistance level 0.7050 (target price for the completion of the active C-wave).