Aussie Selloff Ahead?
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/USD falling inside sharp (c)-wave
2021-11-11 • Updated
- AUD/USD falling inside sharp (c)-wave
- Next sell targets - 0.7500 and 0.7450
AUD/USD has been falling strongly in the last few trading sessions inside the (c)-wave of the minor ABC correction (ii) – which started earlier from the major, long-term resistance level 0.7730 (which has reversed multiple upward impulse waves in the previous months, as can be seen from the daily AUD/USD chart below).
AUD/USD is expected to fall to the next sell target at the support level 0.7500 (low of wave 2) – the breakout of which can lead to further losses toward 0.7450.
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