Market Snapshots

AUDUSD Wave Analysis – 22 May, 2020

AUDUSD Wave Analysis – 22 May, 2020

• AUDUSD reversed from resistance area

• Likely to fall to 0.6400

AUDUSD recently reversed down from the resistance area lying between the resistance level 0.6600 and the upper daily Bollinger Band.

The downward reversal from this resistance area started the active short-term correction (c) – which belongs to the B-wave of the ABC correction (4) from March.

AUDUSD is likely to fall further toward the next support level 0.6400 (which stopped the two previous corrections (a) and (b)).

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