Technical analysis

AUDUSD Wave Analysis 26 March, 2021

AUDUSD Wave Analysis 26 March, 2021

• AUDUSD reversed from support zone

• Likely to rise to resistance level 0.7700

AUDUSD currency pair recently reversed up from the support area set between support level 0.7580 (low of the previous ABC correction (4) from February), lower daily Bollinger Band and 38.2% Fibonacci correction of the upward impulse from November.

The upward reversal from this support area stopped the previous intermediate impulse wave (C).

AUDUSD is likely to rise further toward the next resistance level 0.7700 (low of the previous correction B from the middle of March).

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