AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/USD broke key support area
2019-11-11 • Updated
- AUD/USD broke key support area
- Next sell target - 0.7650
AUD/USD recently broke through the strong support area lying at the intersection of the pivotal support level 0.7750 (which stopped the previous intermediate impulse wave (1)) and the 50% Fibonacci correction of the previous upward price impulse from June. The breakout of this support area accelerated the active impulse wave (3) from the middle of October. AUD/USD is expected to fall to the next sell target at the next support resistance level 0.7650.
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