- AUDUSD approached resistance level 0.6930
- Likely to fall to 0.6840
AUDUSD recently approached the resistance level 0.6930 (former monthly high from October and November) – strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci correction of the previous downward impulse from July.
The resistance level 0.6930 also previously reversed the sharp short-term impulse wave (i) in the middle of December.
AUDUSD is expected to fall further toward the next support level 0.6840 (low of the previous short-term correction (ii)).