Technical analysis

AUDUSD Wave Analysis – 28 March, 2022

AUDUSD Wave Analysis – 28 March, 2022

• AUDUSD reversed from resistance level 0.7530
• Likely to fall to support level 0.7430

AUDUSD currency pair recently reversed down from the pivotal resistance level 0.7530 (which has been reversing the price from last October), intersecting with the upper daily Bollinger Band.

The resistance zone near the resistance level 0.7530 was further strengthened by the 61.8% Fibonacci correction of the downward impulse from last year.

AUDUSD can be expected to fall further toward the next support level 0.7430 (top of the previous minor correction (A)).

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