AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/USD broke resistance zone
2019-11-11 • Updated
- AUD/USD broke resistance zone
- Next buy target - 0.7670
AUD/USD continues to rise after the recent breakout of resistance zone lying at the intersection of the key resistance level 0.7600 (which reversed the previous minor (b)-wave in April) and the 61.8% Fibonacci correction of the previous sharp downward impulse from the middle of March. The breakout of this resistance zone accelerated both of the active minor impulse waves iii, (iii) and 3. AUD/USD is expected to rise to the next buy target at the next resistance level 0.7670 (forecast price for completion of the active impulse wave (iii)).
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