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– AUDUSD falling inside wave b
– Likely to fall support level 0.6200
AUDUSD currency pair continues to fall inside the b-wave which started earlier from the major resistance level 0.6400 (former strong support from April and August of 2024).
The resistance level 0.6400 was strengthened by the upper daily Bollinger Band and by the 38.2% Fibonacci correction of the downward impulse from last October.
Given the strongly bullish US dollar sentiment and strong daily downtrend, AUDUSD currency pair can be expected to fall to the next support level 0.6200, the target price for the completion of the active wave b.
Source: https://fxpro.news
