Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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