AUDUSD Wave Analysis – 3 November, 2022

• AUDUSD broke the support level 0.6300

• Likely to fall to support level 0.6200

AUDUSD currency pair under the bearish pressure after the pair failed to break back above the key resistance level 0.6500 (which has been reversing the pair from the end of September).

The pair just broke the support level 0.6300 – which should further accelerate the active impulse waves (v),3 and C.

AUDUSD can be expected to fall further toward the next support level 0.6200 (which stopped the earlier impulse wave (i) in the middle of October).