November 27, 2020 at 03:22PM
• 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).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audusd-wave-analysis-27-november-2020-20201127/
Selected by fonecable.com
- NEWS: Ronald McDonald says GBP is 22% undervalued against the US dollar (Big Mac index) January 19, 2021 at 02:58AM
- NEWS: China’s Q1 2020 GDP drop was -19.4%, not the officially reported -6.8% January 19, 2021 at 02:34AM
- NEWS: China’s State Planner says there will be no sudden shift in monetary policy in 2021 January 19, 2021 at 02:23AM
- NEWS: 4 reasons NZD/USD is heading higher still January 19, 2021 at 02:06AM
- NEWS: FX option expiries for Tuesday January 19 at the 10am NY cut (big EUR/USD expiries today) January 19, 2021 at 02:06AM