Technical analysis

AUDUSD Wave Analysis – 29 June, 2021

• AUDUSD reversed from resistance level 0.76261

• Likely to fall to support level 0.7470

AUDUSD currency pair recently reversed down with the daily Evening Star from the resistance level 0.76261 intersecting with the 38.2% Fibonacci correction of the downward impulse from the start of May.

The downward reversal from the resistance level 0.76261 started the active short-term corrective wave (b).

AUDUSD can be expected to fall further toward the next support level 0.7470 (low of the previous impulse wave 1).

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