AUD/USD reached sell target 0.7200
- AUD/USD reached sell target 0.7200
- Next sell target - 0.7100
AUD/USD continues to fall – after the earlier breakout of the support zone lying between the support level 0.7200 (which was set as the sell target in our previous forecast for this currency pair) and the 61.8% Fibonacci correction of the previous sharp intermediate ABC correction (2) from the middle of January, as can be seen below. The breakout of this support zone accelerated the active minor impulse wave 5, which belongs to the indeterminate impulse wave (3) from April.
AUD/USD is likely to fall further to the next sell target at the support level 0.7100 (former support level, which reversed previous minor correction (ii) in February).