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AUD/USD broke multi-month resistance level 0.7740

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  • AUD/USD broke multi-month resistance level 0.7740
  • Next buy target - 0.7900

AUD/USD continues to rise inside the minor impulse wave (iii) – which earlier broke through the powerful multi-month resistance level 0.7740 (which has been steadily reversing all upward impulses of this currency pair from the middle of 2016, as can be seen from the daily AUD/USD chart below). The breakout of this resistance level should lead to the substantial strengthening of of the bullish pressure on this currency pair. AUD/USD is expected to rise to the next buy target at the next resistance level 0.7900.

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