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FxPro Forex Analysis: AUDUSD Wave Analysis – 9 July , 2018

AUDUSD broke resistance area
• Likely to rise further

AUDUSD recently broke sharply through the resistance area lying between the key resistance level 0.7440 (former support level from May) and the 38.2% Fibonacci correction of the previous sharp downward impulse C from June.

The breakout of this resistance area accelerated the active minor impulse wave (i) of the medium-term impulse wave (3) from the start of June.

AUDUSD is likely to rise further and re-test the next resistance level 0.7500 (target price for the completion of the active impulse wave (i)).

AUDUSD - Primary Analysis - Jul-09 1816 PM (1 day)