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AUDUSD Wave Analysis – 24 December, 2019

  • 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)).

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