AUDUSD Wave Analysis – 24 December, 2019

AUDUSD approached resistance level 0.6930
Likely to fall to 0.6840

AUDUSD recently approached the resistance level 0.6930 (former monthly high from October and November) – strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci correction of the previous downward impulse from July.

The resistance level 0.6930 also previously reversed the sharp short-term impulse wave (i) in the middle of December.

AUDUSD is expected to fall further toward the next support level 0.6840 (low of the previous short-term correction (ii)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Next Gold Wave Analysis – 24 December, 2019 »

Previous « Sad but true: cryptocurrency won't fly to the Moon

Published by

The FxPro Tech Analysis Team

Tags: AUDUSD

6 years ago

The funeral for Gold has been postponed
The Supreme Court, with its scepticism about the legality of tariffs, has allowed the shiny…
Crypto bulls fail to maintain momentum
Crypto market stabilises after decline; Bitcoin rebounds but faces pressure. Mixed investor sentiment and notable…
Verbal interventions do not help yen
The weak yen and euro boost the USD, as central banks remain cautious and global…