AUDUSD Technical Analysis Report 19 February, 2021

• AUDUSD broke pivotal resistance level 0.7800
• Likely to rise to resistance level 0.8000

AUDUSD currency pair recently broke above the pivotal resistance level 0.7800 (which stopped the three previous waves (1), B and 1– as can be seen from the daily AUDUSD chart below). The breakout of this resistance level accelerated the active minor impulse wave 3 which is a part of the longer-term upward impulse sequence (3) from the start of February.

Given the predominant daily uptrend and the simultaneous AUD bullishness and USD bearishness seen across the FX markets today today – AUDUSD currency pair is likely to rise further toward the next round resistance level 0.8000, which is the projected price for the completion of the active minor impulse wave 3.

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