AUDUSD currency pair recently reversed down from the resistance area lying between the key resistance level 0.76000 (former strong support from the start of April) and the 38.2% Fibonacci correction of the downward impulse from the start of June. The downward reversal from this resistance zone stopped the previous shortterm corrective wave (ii) and started the active impulse wave (iii). Given the strength of the bullish USD sentiment seen across the FX markets today – AUDUSD currency pair can be expected to fall further toward the next support level 0.74750 (low of the previous impulse wave (i)).
