AUD/USD broke support zone

AUD/USD broke support zone

  • AUD/USD broke support zone
  • Next sell target - 0.7710

AUD/USD recently broke through the support zone lying between the strong support level 0.7820 (which stopped the previous minor ABC correction 4 in the middle of August, as can be seen from the daily AUD/USD chart below) and the 38.2% Fibonacci correction of the previous upward price impulse from the start of June. The breakout of this support level strengthened the bearish pressure on this currency pair. NZD/USD is expected to fall to the next sell target at the next support level 0.7710 (target price for the completion of the active impulse wave (3)).

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