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 falling inside the minor (c)-wave
2019-11-11 • Updated
- AUD/USD falling inside the minor (c)-wave
- Next sell target - 0.7870
AUD/USD continues to fall inside the minor (c)-wave of the ABC correction (ii) – which started earlier from the powerful resistance area lying between the resistance 0.8060 and the upper daily Bollinger Band. The last downward reversal from this resistance area created the third consecutive Japanese candlesticks reversal pattern Shooting Star (as can be seen below). AUD/USD is expected to fall further to the next sell target at the next support level 0.7870 (low of the previous minor correction (b)).
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