AUDUSD Wave Analysis

  • AUDUSD reversed from key support level 0.6360
  • Likely to rise to resistance level 0.6440

AUDUSD currency pair recently reversed up from the key support level 0.6360 (previous monthly low from August), intersecting with the support trendline of the wide weekly down channel from February.

The support level 0.6360 was further strengthened by the lower daily Bollinger Band.

Given the strength of the support level 0.6360 and the bullish divergence on the daily Stochastic, AUDUSD can be expected to rise further toward the next resistance level 0.6440.

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading