AUD/USD: sell target - 0.6900
By: Dmitriy Chernovolov
- AUD/USD reversed from resistance zone
- Next sell target - 0.6900
AUD/USD recently reversed down from the resistance zone lying between the resistance level 0.7200 and the 38.2% Fibonacci Correction of the previous sharp downward impulse wave (iii) from the start of August. The downward reversal from this resistance zone completed the latest minor corrective wave (iv) – starting the active impulse (v) – which belongs to the impulse wave 3 of the intermediate impulse (3) from June.
AUD/USD is expected to fall further in the active impulse waves (v), 3 and (3) toward the next sell target at the support level 0.6900 (target price calculated for the completion of wave (3)).