AUD/USD reversed from support zone
- AUD/USD reversed from support zone
- Next buy target - 0.7650
AUD/USD continues to rise after the earlier upward reversal from the support zone lying between the support level 0.7430 (which also earlier reversed the price sharply at the start of July), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse from the end of May. The upward reversal from this support zone started the active minor impulse wave (iii) of the C-wave from May.
AUD/USD is likely to rise to the next buy target at the resistance level 0.7650 (which stopped the previous impulse waves (i) and i, as can be seen below). Strong support remains at 0.7430.