AUDUSD Wave Analysis 23 September, 2020

• AUDUSD broke support area

• Likely to fall to 0.7000

AUDUSD under bearish pressure following the earlier breakout of the support area lying between the support level 0.7145 (which has been reversing the price from August) and the 38.2% Fibonacci correction of the upward price move from June.

The breakout of this support area accelerated the active medium-term impulse wave (C).

AUDUSD is expected to fall further toward the next round support level 0.7000 (former key resistance from June and the target price for the completion of the active impulse wave (C)).