Saturday, 24 August 2019 08:30 GMT

AUDUSD Wave Analysis 5 July, 2019

(MENAFN - FxPro)

  • AUDUSD reversed from resistance area

  • Further losses are likely

AUDUSD recently reversed down from the resistance area lying between the resistance level 0.7020 (previous monthly high from June), upper daily Bollinger Band and the 50% Fibonacci correction level of the previous sharp downward impulse from April.

The downward reversal from this resistance area is likely to create the daily Evening Star – if the price closes this week near the active levels.

AUDUSD is expected to fall further and retest the next support level 0.6950 (support from the start of July).


AUDUSD Wave Analysis 5 July, 2019


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