AUDUSD continues to fall inside the sharp medium-term impulse wave (5) which previously broke the major round support level 0.60000. The breakout of the support level 0.60000 was preceded by the breakout of the two different length weekly down channels from December and January of 2018. Given the moderately bearish Australian dollar sentiment seen across the markets today – AUDUSD is likely to fall further toward the next support level 0.58000 (target price for the completion of the active impulse wave (5)).
