AUD/USD falling inside minor corrective wave 2

AUD/USD falling inside minor corrective wave 2

  • AUD/USD falling inside minor corrective wave 2
  • Next sell target - 0.7880

 AUD/USD continues to fall inside the sharp minor corrective wave 2, which started previously from the combined resistance area lying between the major resistance level 0.8100 (which also stopped the sharp impulse wave (A) in September, as can be seen below) and the upper daily Bollinger Band. AUD/USD is expected to fall further toward the next sell target at the next support level 0.7880 (former resistance level from January).




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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