AUDUSD recently reversed down from the key resistance level 0.7100 (former strong support from the middle of February).
This support level was further strengthened by the 50% Fibonacci correction of the previous downward impulse 1 from last month.
AUDUSD is expected to fall further in the active impulse waves 3 and (3) and re-test the next round support level 0.7000 (which stopped the previous impulse wave 1).
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