• AUDUSD broke key resistance level 0.7640
• Likely to rise to 0.7800

AUDUSD continues to rise after the pair broke above the key resistance level 0.7640 (which stopped the previous minor impulse wave (i) in the middle of December). The breakout of the resistance level 0.7640 continues the active short-term impulse waves (iii) and 3- both of which belongs to the longer-term upward impulse sequence (C) from the start of November.

Given the clear multi-month uptrend that can be seen on the daily AUDUSD charts – the pair is likely to rise further toward the next resistance level 0,7800 (target price for the completion of the active impulse wave (3), intersecting with the daily up channel from October).