AUDUSD Wave Analysis – 1 December, 2021

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• AUDUSD reversed from support level 0.7100

• Likely to rise to resistance level 0.725

AUDUSD currency pair recently reversed up from the powerful support level 0.7100 (previous monthly low from August) – strengthened by the lower daily Bollinger Band.

The upward reversal from the support level 0.7100 created the daily Japanese candlesticks reversal pattern Hammer.

AUDUSD can be expected to rise further toward the next resistance level 0.725 (target price for the completion of the active short-term correction (ii)).

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