September 15, 2020 at 03:16PM
• AUDUSD reversed from support level 0.7200
• Likely to rise to 0.7400
AUDUSD recently reversed up from the key support level 0.7200 (low of the previous wave A, which reversed the price multiple times in July and August).
The upward reversal from the support level 0.7200 started the active medium-term upward impulse sequence (3).
Given the clear daily uptrend, AUDUSD is likely to rise further toward the next resistance level 0.7400 (top of the previous impulse waves 5 and (5) from the end of August).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audusd-wave-analysis-15-september-2020-20200915/
Selected by fonecable.com
- Australian Dollar Forecast: Major AUD/NZD Bottom May Soon Be Approaching
- British Pound Slips After Data, Still Tied to Range. Can GBP/USD Break Out Ahead of FOMC?
- How to Research Stocks: A Step by Step Guide
- Gold Price Outlook Turns to UofM Sentiment as US Dollar, Treasury Yields Rally
- New Zealand Dollar Outlook: NZD/USD Drops on US Dollar Bids, Wall Street Losses