LeoPrime Daily Market Analysis

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AUDUSD under bearish pressure; Likely to fall to support level 0.74500

AUDUSD currency pair is under bearish pressure after the price reversed down once again from the key resistance level of 0.75350 (which has been reversing the price since the middle of last October), standing close to the upper daily Bollinger Band. The downward reversal from the resistance level of 0.75350 stopped the previous impulse waves (2) and C. Given the strength of the resistance level 0.75350 – AUDUSD currency pair can be expected to fall further toward the next support level 0.7450 (top of wave (iii) from the start of March).

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