AUD/USD falling inside sharp (c)-wave

AUD/USD falling inside sharp (c)-wave

  • AUD/USD falling inside sharp (c)-wave
  • Next sell targets - 0.7500 and 0.7450

AUD/USD has been falling strongly in the last few trading sessions inside the (c)-wave of the minor ABC correction (ii) – which started earlier from the major, long-term resistance level 0.7730 (which has reversed multiple upward impulse waves in the previous months, as can be seen from the daily AUD/USD chart below). 

AUD/USD is expected to fall to the next sell target at the support level 0.7500 (low of wave 2) – the breakout of which can lead to further losses toward 0.7450.

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