August 17, 2020 at 03:53PM
• AUDUSD reversed from support level 0.7100
• Likely to rise to 0.7250
AUDUSD recently reversed up from the key support level 0.7100 (which stopped the two previous corrective waves A and (4)).
The support area near the support level 0.7100 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward impulse from June.
AUDUSD is likely to rise further toward the next resistance level 0.7250 (top of the previous mid-term impulse wave (5)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audusd-wave-analysis-17-august-2020-20200817/
Selected by fonecable.com
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