Technical analysis

AUDUSD Wave Analysis 28 December 2023

– AUDUSD reversed from resistance level 0.6865

– Likely to fall to support level 0.6800

AUDUSD currency pair recently reversed down from the major resistance level 0.6865 (which has been reversing the pair from June).

The resistance level 0.6865 was further strengthened by the nearby upper daily Bollinger Band.

Given the strength of the resistance level 0.6865 and the overbought daily Stochastic, AUDUSD currency pair can be expected to fall further to the next support level 0.6800.

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