AUD/USD approaching resistance level 0.7510
- AUD/USD approaching resistance level 0.7510
- Next buy target - 0.7600
AUD/USD has been rising steadily in the last few trading sessions inside the minor impulse wave (iii), which belongs to the C-wave from the end of May. The active C-wave started when the pair reversed up from the support zone lying between the support level 0.7200, lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous sharp upward A-wave from January.
AUD/USD is currently approaching the resistance level 0.7510 (which stopped the previous impulse wave (i) at the start of June) If the pair breaks above 0.7510 - AUD/USD can then be expected to rise to the next buy target at 0.7600 (forecast price for the completion of impulse (iii)).