AUDUSD Wave Analysis – 27 January, 2023
January 27, 2023 @ 22:19 +03:00
• AUDUSD reversed from long-term resistance level 0.7110
• Likely to fall to support level 0.7000
AUDUSD currency pair recently reversed down from the long-term resistance level 0.7110 (former top of wave (2) from the start of August).
The downward reversal from the resistance level 0.7110 stopped the earlier impulse waves (C) and 3 .
Given the strong daily downtrend, AUDUSD currency pair can be expected to fall toward the next support level 0.7000.