AUDUSD Wave Analysis – 10 May, 2022

• AUDUSD broke support zone
• Likely to fall to support level 0.6900

AUDUSD currency pair recently broke the support zone lying between support levels 0.7025 (low of the previous wave (1)) and 0.7000.

The breakout of this support zone accelerated the active impulse wave 3 of the medium-term impulse wave (3) from the start of May.

Given the strong AUD bearishness – AUDUSD can be expected to fall further toward the next support level 0.6900.