AUD/USD: sell target - 0.7200
By: Dmitriy Chernovolov
- AUD/USD reached sell target 0.7450
- Next sell target - 0.7200
AUD/USD continues to decline after the pair earlier broke through the support level 0.7450, which was set as the sell target in our previous forecast for this currency pair. The pair earlier reversed up to test the former support level 0.7450 (acting as resistance now after it was broken) – from where the price reversed down sharply with the daily Japanese candlesticks reversal pattern Bearish Engulfing, as you can see below.
AUD/USD is likely to fall further toward the next sell target at the support level 0.7200 (target price for the completion of the active impulse wave (3)).