Fri, Jun 09, 2023 @ 13:39 GMT

AUDUSD Wave Analysis

  • AUDUSD under bearish pressure
  • Likely to fall to support level 0.6200

AUDUSD under the bearish pressure after the earlier breakout of the support zone lying at the intersection of the support level 0.6400 (low of the earlier impulse wave (i)) and the support trendline of the daily down channel from April.

The breakout of this support zone accelerated the active short-term impulse waves (iii) and C.

AUDUSD can be expected to fall further toward the next support level 0.6200 (target for the completion of the active impulse wave (iii)).

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