AUDUSD Wave Analysis – 23 October, 2019

• AUDUSD reversed from resistance zone
• Likely to fall to 0.6800

AUDUSD recently reversed down from the resistance zone lying between the resistance level 0.6880, upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse 1 from July.

The downward reversal from this resistance zone completed the previous short-term ABC correction (ii).

AUDUSD is expected to fall further and retest the next support level 0.6800 (former top of the earlier corrective wave (a)).