AUDUSD Wave Analysis – 22 April 2025

AUDUSD: ⬇️ Sell

– AUDUSD reversed from the key resistance level 0.6400

– Likely to fall to support level 0.6300

AUDUSD currency pair recently reversed from the resistance area between the key resistance level 0.6400 (former major support from 2024) and the 50% Fibonacci correction of the downward impulse from September.

The downward reversal from this resistance area is likely to form the daily Japanese candlesticks reversal pattern Bearish Engulfing.  

Given the overbought daily Stochastic and the strength of the key resistance level 0.6400, AUDUSD currency pair can be expected to fall to the next support level 0.6300.

Source: https://fxpro.news