The AUDUSD printed lows just below 0.7020 levels last week before turning higher again. As presented here on the hourly chart, the AUDUSD has broken above its immediate resistance trend line and is seen to be trading around 0.7062 levels. Please note that immediate price resistance is seen at 0.7077/80 levels, followed by 0.7148 levels, while immediate price support is seen at 0.7030 levels respectively. Looking into a lower degree wave count, i and ii seem to be in place at 0.7069 and 0.7030 levels respectively and wave iii could be underway towards 0.7115 levels as displayed on the chart view. If the above structure holds well, bulls are expected to stay in control from here and prices should stay above 0.7016 levels respectively.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.