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AUD/USD broke key resistance level 0.7510

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  • AUD/USD broke key resistance level 0.7510
  • Next buy target - 0.7670

AUD/USD continues to rise after the earlier breakout of the key resistance level 0.7510 (which stopped the earlier minor correction (a) in May, as can be seen below). The breakout of the resistance level 0.7510 was preceded by the breakout of the resistance trendline of the daily down channel from March (which has enclosed the previous minor impulse sequence 1). AUD/USD is expected to rise to the next buy target at the next resistance level 0.7670 (top of the previous minor correction (ii) from March). Strong support now stands at 0.7510.

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