AUD/USD reached buy target 0.8100

AUD/USD reached buy target 0.8100

  • AUD/USD reached buy target 0.8100
  • Next buy target - 0.8200

AUD/USD today broke through the key resistance level 0.8100 (previous buy target, which reversed the earlier corrective waves (A) and (ii), as can be seen from the daily AUD/USD chart below). The breakout of the resistance level 0.8100 accelerated the active minor impulse wave 3 of the intermediate impulse wave (C) from December. AUD/USD is expected to rise further toward the next buy target at the next resistance level 0.8200 (target price for the completion of the active impulse 3).




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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