AUDUSD currency pair cab be expected to rise further toward the next round resistance level 0.7000, which reversed the price at the start of 2023.
– AUDUSD broke strong resistance zone
– Likely to rise to resistance level 0.7000
AUDUSD currency pair continues to rise after the breakout of the major resistance zone located between the long-term resistance level 0.6865 (which has been reversing the pair from the middle of 2023, as you can see from the weekly AUDUSD chart below) and the resistance trendline of the weekly up channel from the end of September . The breakout of this resistance level accelerated the active short-term impulse wave 4, which belongs to the intermediate impulse wave (3) from the end of last year.
Given the clear daily uptrend and the strongly bearish US dollar sentiment that can be seen across the FX markets today, AUDUSD currency pair cab be expected to rise further toward the next round resistance level 0.7000, which reversed the price at the start of 2023.
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