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 support zone
2019-11-11 • Updated
- AUD/USD broke support zone
- Next sell target - 0.7320
AUD/USD continues to fall after the earlier strong breakout of the important support zone lying at the intersection of the support level 0.7450 and the 50% Fibonacci correction of the previous intermediate ABC correction (2) from the end of December, as can be seen below. The breakout of this support zone accelerated the active minor impulse wave 3- which belongs to the intermediate downward impulse (3) from the middle of March.
AUD/USD is expected to fall to the next sell target at the next support level 0.7320 (target price for the completion of the active impulse wave 3).
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