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November 03, 2020 at 04:21PM
• AUDUSD rising inside impulse wave (1)
• Likely to rise to 0.7240
AUDUSD continues to rise strongly after the pair reversed up from the support area set between the round support level 0.7000 (former strong resistance from June), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from May.
The upward reversal from this support area started the active short-term upward impulse wave (1).
AUDUSD is likely to rise further in the active impulse wave (1) toward the next resistance level 0.7240 (top of wave (C) from the start of October).#
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audusd-analysis-03-november-2020-20201103/
Selected by fonecable.com
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