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AUDUSD broke 0.68000 resistance area; Likely to rise to 0.68900

 

AUDUSD today broke the resistance area lying between the key resistance level 0.6800 (which reversed the price earlier this month) and the 61.8% Fibonacci correction level of the previous sharp downward impulse wave (i) from the middle of September. With the rising bullish sentiment affecting the Australian Dollar at the moment – AUDJPY is expected to rise further toward the next resistance level 0.6890 (previous monthly high from September and the target price for the completion of the active ABC correction (ii)).

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