Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
AUD/USD approached powerful resistance level 0.7730
2019-11-11 • Updated
- AUD/USD approached powerful resistance level 0.7730
- Next buy target - 0.7800
AUD/USD has been rising sharply in the last few trading sessions inside the minor impulse wave 3, which started earlier from the pivotal support level 0.7500 (former strong resistance level which stopped the previous wave B in the middle of December, as can be seen from the daily AUD/USD chart below).
The price is currently trading close to the powerful resistance level 0.7730 (which has been steadily reversing the pair from last August, as can be seen below). If the pair breaks above 0.7730 - AUD/USD can then be expected to rise to the next buy target at the resistance level 0.7800.
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