Categories: Technical analysis

AUS200 Wave Analysis – 22 April, 2022

• AUS200 index reversed from resistance level 7615.00
• Likely to fall to support level 7430.00

AUS200 index recently reversed down strongly from the long-term resistance level 7615.00 (which has been reversing this index from last August).

The downward reversal from the resistance level 7615.00 created the daily candlesticks reversal pattern Evening Star Doji – which started the active correction (ii).

Given the clear bearish divergence on the daily Stochastic – AUS200 index can be expected to fall further toward the next support level 7430.00 (target for the end of the active correction (ii)).

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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Tags: AUS200

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