AUDUSD Wave Analysis – 4 September, 2020

• AUDUSD under bearish pressure

• Likely to fall to 0,7200

AUDUSD under bearish pressure following the earlier downward reversal from the long-term resistance level 0,7400 (monthly high from the end o 2018).

The resistance zone near the resistance level 0,7400 was strengthened by the upper weekly Bollinger Band.

AUDUSD is likely to fall further toward the next support level 0,7200 (which created the bottom of the two previous weekly candles)