Technical analysis

AUDUSD Wave Analysis 11 August 2023


– AUDUSD reversed from resistance level 0.6600

– Likely to fall to support level 0.6460

AUDUSD currency pair recently reversed down twice from the pivotal resistance level 0.6600 (former strong support from June and July).

The downward reversal from the resistance level 0.6600 created the daily candlesticks reversal pattern Shooting Star.

Given the continued dollar gains, AUDUSD can be expected to fall further toward the next support level 0.6460 (former multi-month low from April).

Article Rating
Rate this post