LeoPrime Daily Market Analysis

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AUDUSD reversed from support area; Likely to rise to resistance level 0.72500;

AUDUSD currency pair recently reversed up with the daily Japanese candlesticks pattern Hammer from the support zone located between the strong multi-month support level 0.71000 (previous monthly low from August, as can be seen from the daily AUDUSD chart below) and the daily lower Bollinger Band. Given the strength of the aforementioned support zone and the rising bearish US dollar sentiment seen across the currency FX today, AUDUSD currency pair can be expected to rise further toward the next resistance level 0.72500 (target price for the completion of the active wave 2).

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